April 5, 2012 / 11:14 AM / 6 years ago

E.ON Russia 2011 net profit up 42 pct y/y

MOSCOW, April 5 (Reuters) - E.ON Russia, the Russian electricity producing arm of German utility E.ON , said on Thursday its 2011 full-year net profit rose 42.4 percent from a year ago to 14.6 billion roubles ($494.84 million).

An increase in capacities, as a result of launching new facilities and renovation of existing ones, lifted E.ON Russia’s operating costs by 26.4 percent to 48.6 billion roubles in 2011, the company said in a statement.

The company’s 2011 revenue, however, outweighed expenses by rising 31.3 percent to 66.09 billion roubles, said E.ON Russia, previously known as OGK-4. ($1 = 29.5045 Russian roubles) (Reporting by Anastasia Lyrchikova; Writing by Andrey Ostroukh; Editing by Megan Davies)

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