Continued growth at MTS

22 Mar 2007

Russia’s largest cellular operator has reported that net profits were up 10.6% in 2006 to USD1.24 billion, while revenues rose 27.4% to USD6.38 billion as calculated under US GAAP guidelines. For the fourth quarter, net profits were up 15.5% year-on-year to USD280.3 million, with sales rising 35.5% to USD1.81 billion.

Meanwhile, MTS says it expects to be able to announce its first-phase 3G equipment supplier within the next two weeks, Prime Tass reports. The Russian government is due to announce the three winners of 3G concessions next month and MTS is among the bidders.

Russia, Mobile TeleSystems (MTS)