MRSK South BOD approved corrected investment program from 2014 till 2019, the company informed.
BOD affirmed report of the director general on the execution of the business plan and investment program for 2013.
MRSK South (TIN 6164266561) was registered in 2007 within the realization of the UES restructuring aimed to decentralize the interregional dispatching network companies. It involves Kubanenergo, Rostovenergo, Vologradenergo, Astrakhanenergo, Kalmenergo.
The share capital is worth 4.981bn rub. split in 49811096064 common stocks of 0.1 rub. par each. Russian Grids is a major holder (51.66%).
The IH 2013 net losses (IAS) reached 189.445mln rub. vs. 1.096bn rub. in profit prior year period; revenues being down 3.68% to 11.809bn rub. from 12.26bn rub.; operating profit - 2.72 fold to 762.128mln rub. from 2.077bn rub.; pretax losses coming to 88.806mln rub. vs. 1.342bn rub. in losses.
The 9-month 2013 net profit (RAS) reached 777.835mln rub. against 88.402mln rub. in losses prior year period; revenues moved up 10.18% to 19.949bn rub. from 18.106bn rub.; profit from sales - 24.96% to 2.938bn rub. from 2.351bn rub.; pretax profit gained 1.217bn rub. vs. 27.548bn rub. in losses prior year.