Gazprom Reports Rise In Profits In First Half Of 2001

Russia's gas giant Gazprom has published its financial report for the first six months of 2001 according to international standards, the company's press service reported to RBC. The volume of sales profits amounted to 127.281m rubles ($4.26m) as of June 30, 2001 as compared to 87.546m rubles ($2.93m) in the corresponding period last year. The total volume of sales revenues reached 323.413m rubles ($10.82m), which is 5 per cent more than in the first six months of 2000. The company's operational costs dropped 10 per cent to 197.57m rubles ($6.61m). The press service reported that low gas prices on the Russian domestic market hampered a rise in Gazprom revenues. On the other hand, the stabilization in the ruble exchange rate had a positive impact on the company's development.