Siberian Coal Energy Company, or SUEK, said Monday that it returned to profit in the first half as coal prices and sales volumes climbed.
Net income was 4.77 billion rubles ($155 million) for the six months to June 30, compared with a loss of 189 million rubles a year earlier, the company said. Sales rose 11 percent to 83.6 billion rubles.
SUEK, owned by Russian billionaires Sergei Popov and Andrei Melnichenko, postponed a July IPO in Moscow and London.
(Bloomberg)
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