MOSCOW, June 26 (RIA Novosti) - TNK-BP Holding [RTS: TNBP] said Thursday its US GAAP net profit declined 11%, year-on-year, in 2007 to $5.7 billion.
TNK-BP Holding, a Russian registered and domiciled open joint stock company incorporated in November 2004, said its net revenues in the reporting period climbed 12% to $24.9 billion while earnings before interest, taxes, depreciation and amortization (EBITDA) fell 15% to $8.7 billion.
TNK-BP Holding, which holds the majority of TNK-BP's assets and operations in Russia, said its net profit, adjusted for the sale of Udmurtneft assets, climbed 37%, year-on-year, in 2007.
