Net profit of the company in the reporting period is RUR 598 m.

IDGC of North-West got an absolutely positive auditing report on accounting (financial) reporting in 2008.

“Accounting (financial) reporting of the company reflects for sure in all respects its financial position as of 31 December 2008 and the results of its financial and economical activities during the period from 1 January to 31 December inclusively, according to demands of the Russian legislation on accounting (financial) reporting,” says the JSC “KPMG” auditors’ report.

According to the results of the year 2008 the earnings of IDGC of North-West were RUR 15,954 m, 91.5% of which was the share of energy power supply.

Profitability index (net profit to earnings) is 6.4%.

Net return of the company following the results of the year was RUR 598 m, which is by 13.4% higher than that provided for by the business plan.

“This is the first reporting of IDGC of North-West after merger of the company in 2008. It includes key figures of predecessors,” says Senior Accountant of “IDGC of North-West Tatyana Maximova.

She noticed that comparable indicators of the year 2007 are not given in the accounting report according to the Russian legislation. “Comparable indexes of 2007 will be included in the report of IDGC of North-West on International Accounting Standards (IAS) which is planned to be published in July 2009,” concluded Tatyana Maximova.