Rusneftegaz can publish results for the second quarter of the year as of and for the three and six months ended 30 June. These statements were prepared in accordance with International Financial Reporting Standards, otherwise known as IFRS, and have not been audited. The full results are disclosed in the financial section of the Group's website.
The revenues reported during the quarter amounted to $118,6 million, with pre-tax profits equating to $52,3 million. This represents increases of 3,9% and 13,3% respectively. In the first six months of the year, total turnover recorded aggregated to $240,2 million with the net profit reported totaling $106,5 million. This indicates a rise of 18,5% and 24,3% compared to 2016. As per the previous quarter, year-on-year increases in commodity prices combined with greater and more efficient production has resulted in rapid growth revenues and profits. Management expects such inflation to continue into the foreseeable future.
The financial details in this article are current at the date of this report, and believed by Rusneftegaz to be accurate and true. All information is disclosed as a summary and does not purport to be complete. The data that this commentary is dependent on is obtained from sources believed to be reliable, but the Group, nor any of the directors, officers, employees, agents, subsidiaries or affiliates, can wholly guarantee the accuracy or completeness of such information.