Profit almost doubled at MegaFon

17 Aug 2006

MegaFon, Russia’s third largest cellular operator, said net profit for the first six months of this year was almost double that of the same period in 2005, rising from RUB1.82 billion (USD68 million) to RUB3.55 billion. Revenues grew from RUB11.34 billion to RUB15.23 billion, while pre-tax profit was up 36% to RUB8.09 billion. MegaFon, whose owners include TeliaSonera, Telecominvest, CT-Mobile (Alfa Group) and IPOC International Growth Fund, had just over 26 million subscribers at the end of June.

Russia, MegaFon