Transneft 2007 net profit rises 18 pct to $2.75 bln

MOSCOW, July 9 (Reuters) - Russian pipeline monopoly Transneft TRNF_p.RTS reported on Wednesday an 18 percent rise in net profits in 2007 as its revenues rose on the back of higher shipping fees.

The company said its consolidated profits under international accounting standards rose to 64.7 billion roubles ($2.75 billion) from 54.9 billion in 2006.

Revenues rose to 221.9 billion from 202.4 billion while operating costs also increased to 136 billion from 114.8 billion. (Reporting by Dmitry Zhdannikov; editing by Amie Ferris-Rotman)