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Transneft H1 profits up 23.4%

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MOSCOW, September 26 (RIA Novosti) - The Russian oil pipeline monopoly Transneft's first half-year (H1) net profits rose 23.4% against the same period of 2004 and reached $938.94 million according to International Accounting Standards, the company's official Web site said.

Pre-tax H1 profits were $1.27 billion compared to $1.02 billion last year.

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