Russian Railways net profit down 26% in H1

Russian Railways (RZD) (RTS: RZHD) posted a  net  profit  of 18.8 billion rubles in the first six months of 2008, a  decrease  of  26.3% compared with the profit in the same period last year,   company  President  Vladimir  Yakunin  told  journalists  on Wednesday according to Interfax.

The  profit  last  year was inflated with the proceeds from sale of stakes in subsidiaries,  Yakunin said in explaining the decline.

Net  profit  in  2007 amounted to 84.5 billion rubles. Revenue from core operations totaled 975.6 billion rubles.

Source: Portnews