OREANDA-NEWS. June 07, 2010. JSC FGC UES prepared its 1Q 2010 accounting reports in accordance with Russian Accounting Standards (RAS). Compared with the similar period of the previous year, for the 1st quarter of 2010 JSC FGC UES sales increased RUR 7 bn (36%) and totaled RUR 28 bn. The increase can be explained by 51% tariff increase for electric power transmission compared with the previous year (the 2010 average monthly tariff is 87,869 RUR/MW compared with 58,159 RUR/MW in 2009).

Based on 1Q 2010 activity results the company’s net profit increased by 3.5 times as compared to the similar period of the previous year, and totaled RUR 14 bn. Net profit increase is explained by RUR 4 bn increase in operating income and RUR 8 bn growth in other income in part of reversal of previously made revaluation reserves.

RAS 1Q 2010 Accounting Reports for the 1st quarter of 2010 are available on JSC FGC UES Web-site at: http://www.fsk-ees.ru/investors_finance_rfrs.html