Business

Mobile operator MegaFon posts 70% net income growth for 2007

16:23 17/04/2008

MOSCOW, April 17 (RIA Novosti) - MegaFon [RTS: MEGF], Russia's third largest mobile operator, said Thursday its unaudited US GAAP net income grew 70.2% year-on-year in 2007 to $1.38 billion.

MegaFon, which was established in 2002, said its revenue in the reporting period increased 53.2% to $5.72 billion.

MegaFon attributed its revenue growth to increased subscriber numbers and subscriber traffic volumes.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20080417/105326008.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20080417/105326008.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;"> Mobile operator MegaFon posts 70% net income growth for 2007 </strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">16:23</span> <span style="color:#5590bf; padding-right:7px;">17/04/2008</span> <span style="font-size:12px;"><a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20080417/105326008.html" title=" Mobile operator MegaFon posts 70% net income growth for 2007 ">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>