Galnaftogaz announces 1H08 IFRS unaudited consolidated financials

15 September 2008

On Friday Galnaftogaz (GLNG: BUY) released its 1H08 IFRS unaudited consolidated financial statements: revenue rose 92% yoy to USD 521.6 mln; EBITDA soared 3.1x yoy to USD 47.5 mln; net income was up ~6x yoy to USD 24.2 mln. The company announced it sold ~314 ths mt of oil products in 1H08.

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