MOSCOW, July 5 (RIA Novosti) - Russia's state-controlled nuclear equipment exporter Techsnabexport (Tenex) said Thursday its net income, calculated to International Financial Reporting Standards (IFRS), climbed 15%, year-on-year, in 2006 to 2.64 billion rubles (about $102 million).
The company's current assets grew 70% in the reporting period to 13.3 billion rubles (about $512 million) due to an increase in its inventories to ensure guaranteed export deliveries considering the lower prime cost of shipments on long-term contracts with foreign partners amid growth in world prices for uranium raw materials, Techsnabexport said.
Growth in the company's assets was largely ensured through an increase in borrowings, Techsnabexport said.
