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Thursday, November 16, 2006

Russia's Slavneft posts 70.6% RAS net profit drop in 9M06

MOSCOW, November 15 (RIA Novosti) - Slavneft [RTS: SLAV] said Wednesday its net profit calculated to Russian Accounting Standards (RAS) declined 70.6% year-on-year in the first nine months of 2006, to 9.2 billion rubles (about $342 million). The Russian oil producer said its gross profit fell 71.4% in the reporting period to 5.09 billion rubles (about $188 million), while sales profit shrank 68.75% to 3.87 billion rubles (about $143 million).

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