- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Volgatelecom 1H06 net profits rise 39.3%

Subscribe
MOSCOW, September 18 (RIA Novosti) - Volgatelecom (RTS: NNSI) said Monday its un-audited net profits, calculated to International Accounting Standards (IAS), increased 39.3%, year-on-year, to 1.52 billion rubles ($56.6 million) in the first half of 2006.

The Russian regional telecommunications company's revenue in January-June grew 1.8%, year on-year, to 11.54 billion rubles ($430 million), a statement said.

Pre-tax profits rose 12.6% to 2.15 billion rubles ($80.2 million), whereas EBITDA climbed 21% to 4.54 billion rubles ($170 million) in the reporting period, with expenditures falling 2%, to 9.1 billion rubles ($340 million), the statement said.

Founded in 2002 in the city of Nizhny Novgorod, on the Volga River, with the amalgamation of 11 regional telecoms companies, Volgatelecom posted a net profit of $82.5 million in 2005, a 10% increase, year-on-year.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала