The Cabinet of Ministers of Ukraine has approved a financial plan for 2017 of the state-owned Ukrenergo, the operator of the country’s united energy grid, for 2017, setting a target for the company's net profit at UAH 2.554 billion.
According to the document’s text posted on the company website, net income will amount to UAH 7.877 billion, while gross profit will be UAH 5.108 billion.
As UNIAN reported earlier, Ukrenergo in 2016 increased its net profit compared with 2015 by 3.7 times, up to UAH 3 billion. Net income in 2016 grew by 32%, up to UAH 7.174 billion, while gross profit increased by 43%, up to UAH 4.989 billion. Ukrenergo operates trunk and inter-state transmission lines and provides centralized dispatching of the United Energy Grid.
Prosecutors raid Ukrenergo HQ as part of large-scale embezzlement caseUkrenergo is a state-owned enterprise, subordinate to the Ministry of Energy and Coal Industry.