Russian gas producer Itera reports 24% sales growth in 2007

By RIA Novosti

Moscow : The Russian natural gas producer Itera said on Monday its revenues calculated to Russian Accounting Standards (RAS) grew 23.6%, year on year, in 2007 to 29.69 billion rubles ($1.2 billion).

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The independent natural gas producer said growth in revenues in the reporting period contributed to a 47.6% increase in net profit to 2.934 billion rubles ($122 million).

Itera, which has authorized capital of 60 mln rubles ($2.5 mln), said its assets grew 15.4% in the reporting period to 29.985 billion rubles ($1.25 billion).

The company is 99.99% owned by Itera Holdings Limited.