MGTS sees 19% jump in profits

15 Aug 2007

Moscow City Telephone Network (MGTS) has reported a 19.3% year-on-year increase in net profits to RUB3.37 billion (USD132 million) for the first six months of this year. First half revenues were up 22.4% to RUB13.04 billion, while pre-tax profit was up 18% at RUB6.1 billion under Russian accounting standards. Part of the Comstar-UTS group, MGTS is the incumbent fixed line operator in the Moscow metropolitan area and the largest provider of local telecoms services in the region.

Russia, Moscow City Telephone Network (MGTS)