PRESS: T Plus expects better financial performance in 2017

MOSCOW, Nov 15 (PRIME) -- Russian power producer T Plus expects that its financial results will improve in 2017 compared with 2016, acting CEO Denis Pasler said in an interview with business daily Vedomosti released on Wednesday.

“By the way, this year our financial results will be better than last year,” he said.

“All the previous years the company was accumulating the debt burden – construction was held. The company allotted 127 billion rubles for new generating facilities… This year we will not raise the debt burden, and ten our budget encompasses its gradual reduction,” Pasler said.

In 2016, the company’s net profit rose 14.9% to 323.057 million rubles, as calculated under Russian Accounting Standards (RAS).

Pasler also said that T Plus plans to shut down 3 gigawatts of power capacities.

(59.6207 rubles – U.S. $1)

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