Mosenergo posts 2002 financial results

Mosenergo sales proceeds amounted to 54bn rubles ($1.7bn) in 2002, compared to 46.2bn rubles in 2001, the press service of the company reported.

The energy company's net income was 646m rubles ($20.5m) last year, which was three times lower than in 2001.

Sales income was 4.6bn rubles ($146m). The profitability of energy production was 9.5 percent in 2002, compared to 25 percent in 2001. The profitability of electrical energy production was 16.2 percent and of heating energy was -2.5 percent, which was due to the selling of heating at the prices lower than its production cost.

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