CEO says Russia’s RusHydro net profit likely to grow in 2016

MOSCOW, Apr 26 (PRIME) -- The net profit of Russian hydropower giant RusHydro is expected to grow in 2016 from the 2015 levels, when it amounted to 27.2 billion rubles, as calculated under International Financial Reporting Standards (IFRS), CEO Nikolai Shulginov told reporters on Tuesday.

“Last year we had 27.2 billion rubles. The forecast in the business plan is somewhat better,” Shulginov said.

“We have every reason to think so, at least the first quarter… our output was higher, that is, we had good water reserves... our output was better, we made it through the first quarter well, so it gives us confidence that our IFRS net profit will be higher.”

(66.6295 rubles – U.S. $1)

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