PJSC ROSSETI (LSE:RSTI) received a net income of more than 42.3 billion rubles against 22.9 billion rubles of net loss for the same period last year based on the results of work in the first half of 2018 in accordance with the RAS.
As in the first quarter of 2018, income growth is caused by the increase in value of subsidiaries shares on the balance sheet of PJSC ROSSETI, which is in its turn linked with the increased financial stability of subsidiaries and growth of their capitalization.
"The positive dynamics of the shareholder value of the holding's enterprises testifies to the positive attitude of the investment community towards the group of companies ROSSETI. Our results for the first half of the year and good reporting in the first quarter create a steady growth trend. This is, in return, the result of a great deal of internal work on increasing the effectiveness and maximizing the effective use of financial resources. Management will make every effort to further improve the indicators in the interests of investors," Pavel Livinskiy, Director General of PJSC ROSSETI, said, commenting the results of the reporting.
Recall that in the first three months of 2018, PJSC ROSSETI received a net income of over 21.5 billion rubles, while in 2017 the loss in the first quarter amounted to 24.5 billion rubles.
More detailed information on the financial and economic indicators of PJSC ROSSETI in accordance with RAS for the first half of 2018 can be obtained in the relevant section of the official website.