Russia's Gazprom energy giant said today that its net profit for the first half of 2008 soared 83%, boosted by gains on the sale of a bank it owned.
Net profit for the six months to June came to 573.75 billion rubles (€13.8 billion), the company said in a statement. Sales in the first six months jumped 52.4% over the same time last year, reaching about €42 billion.
'The main influence on financial indicators' was the sale in June of part of Gazprom's share in Gazprombank, it said.
Gazprom is estimated to control about a quarter of world natural gas reserves and supplies about a quarter of the European Union's gas needs.
The company is locked in a dispute with Ukraine over unpaid debts and has warned it could cut supplies to Ukraine, an important transit route to Europe, if a resolution is not found by a New Year deadline.
