Former electricity monopoly RAO Unified Energy System of Russia (EESR.RS), or UES, Wednesday said its net profit for 2007, calculated under International Financial Reporting Standards, rose 11% on the year to 165 billion rubles ($7.01 billion) on sales of its subsidiaries.
The company said its consolidated revenue stood at RUB822 billion, up 18% on the year.
UES' financial statements tend not to have a direct impact on its share price.
Russia is now in final stages of its electricity sector reform, under which UES has been selling off its subsidiaries and will cease to exist July 1.