Ukraine power firm DTEK's net profit falls 59.6 pct
KIEV, Sept 17
KIEV, Sept 17 (Reuters) - Ukraine's largest private power and coal producer, DTEK, reported on Tuesday a 59.6 percent fall in its first-half net profit to 1.197 billion hryvnias (around $150 million) blaming in part a rise in lending.
"Net profit for the period decreased ... mainly due to the fall in gross profit, as well as increased financial costs linked with the growth of the loan portfolio," DTEK said in a statement.
It said earnings before interest, tax, depreciation and amortisation fell by 11.4 percent.
DTEK, part of the empire of Ukraine's richest businessman, Rinat Akhmetov, accounts for about 29 percent of the country's thermal power generation. It also controls about 46 percent of Ukraine's coal production.
The company said its coal production edged up by 0.2 percent in the first six months of 2013, while electricity exports rose by 15.3 percent. (Reporting By Pavel Polityuk; Editing by Greg Mahlich)
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