Gazprom's nine-month profits jump 40%

10th February 2011, Comments 0 comments

The world's largest gas firm Gazprom said Thursday that its net profits for the first nine months of 2010 had risen 39.5 percent to 668.75 billion rubles (22.82 billion dollars, 16.7 billion euros).

The gas giant reported a total sales increase of 16.3 percent to 2.5 trillion rubles compared to the same-period figure from the previous year.

Gazprom, founded in 1989, grew out of the Soviet Union's Gas Industry Ministry and was partially privatised in 1993 in the much-criticised sale of state assets in post-Soviet Russia.

The state has retained a controlling stake of just over 50 percent, according to the company's website.

© 2011 AFP

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