June 21, 2007 / 4:01 PM / 11 years ago

Russia's Basic Element says 2006 revenues up 40.5 pct

 MOSCOW, June 21 (Reuters) - Russian billionaire Oleg
Deripaska's Basic Element investment firm boosted 2006 revenues
40.5 percent to $18.475 billion on high commodity prices,
acquisitions and a strong Russian market, the group's CEO said
on Thursday.
 Gulzhan Moldazhanova told reporters the total value of the
group's assets rose 61 percent last year to $23 billion.
 The group's flagship energy and aluminium business, En+
Group, accounted for more than half of last year's revenues,
bringing in $10.869 billion, up 47 percent year-on-year.
 En+ is the controlling shareholder in United Company RUSAL,
which produces an eighth of the world's aluminium.
 Deripaska, Basic Element's sole owner, was ranked Russia's
second-richest man by Forbes magazine in May with a personal
fortune of $16.8 billion. The company is not listed.
 Basic Element supplied the following data on revenues to
International Financial Reporting Standards. It gave no data on
profits.
 
 Business sector       2006        2005       Yr/yr change
                ($ million)  ($ million)      (pct)
 Energy               10,869       7,410          +47
 Manufacturing         4,541       3,527          +29
 Financial Services    1,476       1,137          +30
 Construction          1,045         564          +85
 Resources               544         512           +6

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