Regional acquisitions boost Comstar

6 Dec 2006

Russian telco Comstar UTS has reported a 34% year-on-year increase in third-quarter consolidated revenues to USD291.8 million. Operating income was up 6% to USD76.5 million, while net income climbed 41% to USD48.3 million. The firm’s CEO Eric Franke commented: ‘In addition to a solid underlying organic performance across our businesses, the newly acquired regional businesses added USD12.8 million of revenue in the quarter.’ Comstar UTS claims to be the leading non-government telco in Russia’s wireline sector and is the largest fixed line and broadband operator in the Moscow region, operating under its own name and via a number of subsidiaries including MGTS, MTU-Intel, MTU-Inform and Telmos.

Russia, Comstar United TeleSystems (Comstar UTS)