MOSCOW, October 4 (RIA Novosti) - AFK Sistema [RTS: AFKS] said Thursday its US GAAP net income increased 180%, year-on-year, in the first six months of the year, to $877.1 million.
AFK Sistema, one of Russia's largest diversified corporations, with businesses ranging from banking to telecommunications, said its consolidated revenues increased 36% to $5.9 billion in the reporting period.
Operating income rose 42%, year-on-year, in January-June 2007 to $1.43 billion.
Founded in 1993, AFK Sistema manages businesses in service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. The company's main shareholder is Vladimir Yevtushenkov (62.1%), who is also its founder and board chairman.
