Russian-based Golden Telecom, a provider of voice, data, internet access, leased line and call centre services, has announced that revenues for 2004 grew by 64%, to USD584 million. Net income climbed 17% to USD65 million. The acquisition and consolidation of Comincom-Combellga, a large Russian competitive local exchange carrier, helped boost the figures; before the acquisition Comincom-Combellga was growing at a faster rate with higher profitability than Golden Telecom.
At the end of 2004, the company had 162,728 ‘business and corporate services’ contracts (up 67% year-on-year), 413,351 ‘carrier and operator services’ contracts (up 14%) and 57,490 mobile customers (up 44%).
In addition to the impressive growth, in September 2004 Golden Telecom paid its first dividend since its IPO five years ago.