LUKoil, Russia's largest privately-owned oil company, posted a 28.5% year-on-year increase in its 2010 net profit to $9.006 billion to US GAAP, LUKoil said on Thursday.
LUKoil's sales revenues in 2010 grew 29.4% year-on-year to $104.956 billion, the company said in a statement.
The company's net profit was lower compared than analysts' expectations in a RIA Novosti poll, whose average net profit forecast amounted to $9.4 billion, while revenues exceeded analysts' expectations of $104.293 billion.
LUKoil's 2010 EBITDA rose 19.1% to $16.049 billion, the oil giant said, attributing the increase primarily to higher prices for hydrocarbons in 2010.
Capital expenditure, including non-cash operations, increased 4.7% to $6.8 billion in 2010. The company's strict financial discipline helped generate record free cash flow, which hit $6.930 billion in 2010 compared to $2.360 billion in 2009.
MOSCOW, March 10 (RIA Novosti)
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The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.