Mykolaivoblenergo Announces 1H05 Results

Mykolaivoblenergo (MYON: N/R) posted a net loss of USD 5.7 mln in 1H05. The company has decreased electricity supplies in 1H05 by 2.7% yoy. Concorde Capital: MYON has one of the highest levels of electricity losses, which are not compensated by the company?s tariffs: 10.3% of electricity purchased at the wholesale market in 1H05. A high level of electricity losses is the main reason for the company?s poor financial results.