Zakarpatoblenergo Announces 2005 Results.

Zakarpatoblenergo (ZOEN: SELL) reported USD 53 mln in net revenue (+12.5% yoy) and USD 0.43 mln net income (compared to the same amount of net losses in 2004). Concorde Capital: The company has improved its performance in 2005, but remains in the group of the least efficient distribution companies. The company’s excessive electricity losses, though less this year, and the company’s debt problem (with receivables and payables comparable to annual sales) needs to be solved. Still, positive net income in 2005 is a signal that things are improving inside the company.