Russian wholesale generator OAO OGK-2 (OGKB.RS) Friday said it expects its 2007 results, calculated under International Financial Reporting Standards, to show a loss of 266 million rubles ($11.3 million).
In 2006, OGK-2's net profit totaled RUB2.43 billion, including the effect of the RUB4.31 billion reversal of impairment of property, plant and equipment and assets under construction, the company said.
Russian gas monopoly OAO Gazprom (GAZP.RS) holds a 12.2% stake in London-listed OGK-2.