Business

MGTS posts 42% US GAAP net profit increase to $178 mln in 2007

21:52 18/06/2008

MOSCOW, June 18 (RIA Novosti) - Moscow City Telephone Network (MGTS [RTS: MGTS]), one of the largest fixed-line operators in Russia and Europe, posted on Wednesday a 42% increase in consolidated net profit calculated to US GAAP to $178.3 million year-on-year in 2007.

The company's revenues grew 38.6% to $1.1 billion in 2007 against 2006.

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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/20080618/111171589.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/20080618/111171589.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;">MGTS posts 42% US GAAP net profit increase to $178 mln in 2007</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">21:52</span> <span style="color:#5590bf; padding-right:7px;">18/06/2008</span> <span style="font-size:12px;"><a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20080618/111171589.html" title="MGTS posts 42% US GAAP net profit increase to $178 mln in 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>