Lukoil 1st Half Net Profit Rose 20% on Higher Sales
August 28 2019 - 7:44AM
Dow Jones News
By Oliver Griffin
Lukoil PJSC (LKOH.MZ) on Wednesday reported a 20% rise in
first-half net profit, driven by higher sales of oil and gas.
The Russian oil-and-gas company made a profit of 330.5 billion
rubles ($4.98 billion) in the first half of 2019, up from RUB276.4
billion in the year-earlier period.
Despite the rise in net profit, Lukoil said profit growth was
constrained by higher depreciation, depletion and amortization
charges following its adoption of new accounting standards.
Sales in the first half of the year fell 7.9% to RUB3.98
trillion, the company said. It attributed the growth to higher
sales volumes in crude oil and natural gas, which followed an
increase in production.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
August 28, 2019 07:29 ET (11:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
PJSC Lukoil (CE) (USOTC:LUKOY)
Historical Stock Chart
From Mar 2024 to Apr 2024
PJSC Lukoil (CE) (USOTC:LUKOY)
Historical Stock Chart
From Apr 2023 to Apr 2024
