OREANDA-NEWS. RAO "UES of Russia" has published the consolidated financial statements of RAO UES Group prepared in accordance with the International Financial Reporting Standards (IFRS) for the first nine months of 2006.

The Group's revenues and other operating income in the first nine months of 2006 amounted to RUB654,316 million, an increase of RUB107,660 million (or 19%) compared to the same period of 2005.

The Group's operating expenses in January-September 2006 grew RUB83,136 million, or 17%, to RUB585,687 million. The increase in overall expenses was mainly driven by price increases for all fuels.

Over the reporting period, the Group's operating profit grew in year-on-year terms by RUB24,524 million to RUB68,629 million.

The Group's net profit for 9M 2006 grew yoy RUB1,233 million to RUB11,994 million, which was due to additional assessment of the deferred income tax in the amount of RUB22 billion and the increased share in the dependent companies' losses by RUB200 million.

In the first 9 months of 2006, the profit attributable to the Group's minority interests increased by RUB6,711 million to RUB8,906 million year on year.