Net profit of Transneft JSC under the IFRS for the first half year of 2004 has increased 1,5 times and totaled RR20, 610 billion.

According to the consolidated non-audited accounting data return of the Company has increased 1,3 times up to RR70,728 billion. Profit on principal activity has also increased 1,3 times and reached RR29.815 billion; profit before taxation amounted RR28,971 billion. For the period stated Company’s costs increased 1,3 times and came to RR40,682 billion.

Profit growth is caused by increase of the Company’s capacity and most of all due to expansion of the Baltic Pipeline System capacity.