Unified Energy System`s net profit calculated to International Financial Reporting Standards increased 490% year-on-year in 2006 to 149.5 billion rubles ($5.8 billion), the electricity monopoly said Friday.

The increase was largely due to refreshed depreciation reserves, a tariff imbalance of 11.7 billion rubles ($454 million), and proceeds from the sale of non-core assets.

UES` charter capital exceeds 21.5 billion rubles ($826 million). The government owns 52.7% of its shares.
sections: Economics