Vimpelcom record results

1 Dec 2006

Russia’s second largest cellular operator Vimpelcom has reported a 37.7% rise in third quarter net profit to USD268.4 million. Operating revenues were up 52.6% to USD1.36 billion. The firm had 52.38 million subscribers across all its operations at the end of September, including 47.65 million in Russia, 3.23 million in Kazakhstan and 940,000 in Ukraine. It also operates networks in Uzbekistan and Tajikstan and has recently acquired firms in Georgia and Armenia.

Chief executive Alexander Izosimov commented: ‘In Russia, we continued to focus on the quality of our subscriber base, revenue growth and profitability. We again delivered year-on-year ARPU growth, with the third quarter increase much more pronounced than in the previous quarter. This improvement was driven by improved quality of our subscriber base, growing traffic, conservative pricing policy and increased interconnect charges between mobile operators.’

Russia, Beeline (Russia), VEON