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 $118.6m, with net profits amounting to $52.3m. The represents increases of 3.9% and 13.3% respectively. In the first six months of the year, total revenue recorded amounted to $240.2m with the net profit reported totalling $106.5m. This indicates an increase 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 increased revenues and profits. The Group expects such rises to continue into the next quarter.
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.