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Galnaftogaz releases unconsolidated UAS financials for 1H10

Galnaftogaz releases unconsolidated UAS financials for 1H10

28 July 2010

Galnaftogaz (UX: GLNG UK) released its unconsolidated UAS financial statements for 1H10 yesterday in a filing with the State Securities and Exchange Commission: net revenues increased 75.9% yoy to UAH 4.0 bln, net income rose 13.8% yoy to UAH 161.8 mln. Andriy Gerus:  These unconsolidated financial statements are not reflective of Galnaftogaz’ business in 1H10. We recommend investors wait for consolidated financials, which the company is planning to release within the next two weeks.

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