Svyazinvest reports 88.6% increase in profits

19 May 2008

Russia’s Svyazinvest group has reported an 88.6% jump in net profits for 2007 to RUB36.9 billion (USD1.6 billion). Earnings before interest, tax, depreciation and amortisation (EBITDA) reached RUB87.9 billion, while revenues were up 12% at RUB244 billion. State-backed Svyazinvest has stakes in Russia’s seven mega-regional wireline operators plus national long-distance operator Rostelecom.

Russia, Svyazinvest