By Oliver Griffin

Russian gas producer Gazprom PJSC (GAZP.RS) said Friday that net profit for 2017 fell 25% as the Russian ruble strengthened against the U.S. dollar and the euro, offsetting sales growth.

The company said profit for the year-ended Dec. 31 fell to 714.3 billion rubles ($11.4 billion) from RUB951.6 billion in 2016.

Total sales in 2017 rose 7% to RUB6,546 billion, Gazprom said.

The company also said during the year net gas sales grew in all of its geographic segments.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

April 27, 2018 04:56 ET (08:56 GMT)

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