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Rostelecom net profit soars more than 400% in 1H07

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MOSCOW, November 28 (RIA Novosti) - Rostelecom [RTS: RTKM] said Wednesday its consolidated net profit, calculated to International Financial Reporting Standards (IFRS), increased 414% year on year in January-June 2007 to 2.55 billion rubles ($103.9 million).

Russia's national long-distance telecommunications operator said its consolidated earnings in the reporting period climbed 8.2%, to 31.74 billion rubles (about $1.3 billion).

Rostelecom, a subsidiary of Russia's state-run telecoms giant Svyazinvest, also said the revenue growth was driven by increased income from the successful development and promotion of the company's intelligent network services and wholesale Internet services, coupled with rising market demand for customer equipment servicing.

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