MOSCOW, June 4 (RIA Novosti) - Russian wholesale power generating group WGC-1 said Monday its IFRS net profit soared 4,760% year-on-year in 2006 to 5.83 billion rubles (about $226 million).
WGC-1 Group, which includes Wholesale Generating Company No. 1, Russia's largest heat generator with installed capacity of 9,531 MWt, and its subsidiaries, gave no explanation for its profit surge.
Earnings in the reporting period climbed 46.4% to over 30 billion rubles (about $1.2 billion) and pre-tax profit increased almost 1,700% year-on-year in 2006 to 8.37 billion rubles ($about $324 million), the company said in its financial statements audited by Pricewaterhouse Coopers.
