Golden Telecom sales up, expansion planned

10 Mar 2006

The Russian business services provider Golden Telecom has reported rises in both revenues and net profit for 2005. Sales were up 14% to USD667.4 million, while net income rose 17% to USD76.1 million. The firm had 184,200 business customers at the end of 2005, up from 162,700 a year before. Dial-up internet subscriptions increased from 413,350 to 422,480 over the same period. Golden Telecom, whose shareholders include Telenor and the Alfa Group, says it plans to begin offering VoIP services to residential customers in Moscow during 2006, while it also plans to rollout 5,000 Wi-Fi access points across the city. It is also deploying a transit network which will enable it to add long-distance services to its portfolio.