Rostelecom first half profit jumps 71.5% to RUB4.69 billion

2 Aug 2007

Rostelecom said its first half net profit reached RUB4.69 billion (USD183 million), up 71.5% from RUB2.74 billion a year earlier, thanks to strong sales and the revaluation of its financial investments. Sales in the six months ended 30 June 2007 reached RUB30.74 billion, up 7.1%. The state-owned company also posted a gain of RUB826.8 million through asset revaluation, compared to a year-earlier depreciation of RUB185.1 million. Operating profit in the period climbed to RUB5.44 billion, up 38.7% from RUB3.92 billion.

Russia, Rostelecom