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Novatek 2009 Profit Slips

Novatek said Friday that 2009 profit declined 0.5 percent from a year earlier as the ruble fell against the dollar.

Net income slid to 7.14 billion rubles ($234 million) from 7.18 billion rubles, the gas producer said in a statement. That missed a mean estimate of 7.61 billion rubles from eight analysts surveyed by Bloomberg.

Sales rose 11 percent to 25.7 billion rubles as gas output and prices gained, the company said. Novatek, which sells all of its gas within Russia, said volumes rose 2.7 percent to 7.91 billion cubic meters.

(Bloomberg)

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