Golden mines profit

10 Aug 2007

Golden Telecom’s net profit grew 20% year-on-year to USD49 million under US GAAP standards in H1 2007, on revenues that rose 47.5% to USD553.6 million. Operating profit at the Russian full-service operator reached USD77.3 million, 24.4% higher than in the first six months of 2006 , with EBITDA rising 34% to USD148.7 million. In Q2 2007, net profit increased 46% year-on-year to USD33 million, with quarterly revenues amounting to USD297.9 million, up 51% from 2Q06. Second quarter operating profit rose 55% y-o-y to USD47.6 million.