Sverdlovenergosbyt’s net profit drops 23.52%
The net profit of OAO Sverdlovenergosbyt went down by 47.718 million RUR, or 23.52% in January-March 2010. The figures dropped from 202.917 million RUR in the fourth quarter of 2009 down to 155.199 million RUR in the first quarter of 2010.
The main reason the profits declined was uneven distribution of payments on the energy-purchasing agreements signed for the year 2010, the company reports. Under these agreements, the average price for the first three months of the year is generally higher than the year’s average price.
The main reason the profits declined was uneven distribution of payments on the energy-purchasing agreements signed for the year 2010, the company reports. Under these agreements, the average price for the first three months of the year is generally higher than the year’s average price.
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