U.S. News

Gazprom's 2006 Net Profit Doubles, Beats Forecasts


Russia's gas monopoly Gazprom said on Thursday its profit doubled in 2006 to 636.461 billion roubles ($24.63 billion) in 2005, beating the average analysts' expectations of 591.4 billion roubles in Reuters poll.

The firm said its revenue, calculated to International Financial Reporting Standards, rose to 2.152 trillion roubles in 2006 from 1.38 trillion roubles in 2005, with its average price for 1,000 cubic metres of gas sold outside the former Soviet Union rising to $261.9 from $192.4.