Management Company Perspektive Finance LLC (trust manager) increased its equity position in JSC Moscow United Electric Grid Company (MOESK) to 6.2284%, MOESK informed.
Prior to this transaction, the management company owned 1.845% of the voting shares in the grid company.
JSC Moscow United Electric Grid Company (MOESK, tax number: 5036065113) is the largest interregional distribution grid company of Russia which is among three major power companies of the country. MOESK provides services to 98% of Moscow consumers and 95% of consumers in Moscow region. Its basic profile is providing electric power transmission and power connection services.
The company operates more than 607 main high-voltage substations (35/110/220 kV), 35-220 kV transmission lines (total length: 15,590 km), high-voltage 35-110-220-500 kV cable lines (1,408 km), distribution grids (121,145 km), and over 30,000 distribution and transformer substations. The company employs 15.7 thousand people.
The major shareholders of MOESK are: JSC Russian Grids (51%), Gazprom Group (31%) and a group of companies of the Moscow Government (8%), the free float being over 8%.
IFRS net profit of JSC Moscow United Electric Grid Company for H1 2013 dropped by 16.42% to RUB 7.189 billion from RUB 8.6 billion the year before. Revenue increased by 7.17% to RUB 61.231 billion from RUB 57.134 billion, profit from operations decreased by 13.42% to RUB 10.217 billion from RUB 11.801 billion, pre-tax profit by 21.49% to RUB 8.881 billion from RUB 11.311 billion.
According to the DataCapital information retrieval system, RAS net profit of JSC MOESK for 9 months 2013 dropped 2.05-fold to RUB 7.629 billion from RUB 15.654 billion the year before. Revenue increased by 7.3% to RUB 88.258 billion from RUB 82.255 billion, sales profit decreased by 7.24% to RUB 16.701 billion from RUB 18.006 billion, pre-tax profit by 36.22% to RUB 11.104 billion from RUB 17.411 billion.