RusPetro swings to first-half loss, shares drop

Revenues at West Siberia-focused oil and gas group RusPetro tripled in the first six months of the year, a 'transformational' period since its flotation in London in January, the firm said.

Revenues at West Siberia-focused oil and gas group RusPetro tripled in the first six months of the year, a 'transformational' period since its flotation in London in January, the firm said.

However, shares dropped on Wednesday morning after the company reported a pre-tax loss of $26.4m, compared with a profit of $0.6m in the first half of last year. Cost of sales surged from $16.1m to $31.4m, while selling and administrative expenses from $5.4m to $27.0m.

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