MTS grows on higher subs and traffic

21 May 2008

Russia’s largest cellular operator, Mobile TeleSystems (MTS), has reported first-quarter net profits of USD610 million, up from USD449 million in the year-ago period. The results beat an average forecast of USD532.1 million from a Dow Jones poll of analysts. MTS says strong subscriber growth and increased traffic helped push sales up by 37% to USD2.38 billion. The firm added 2.5 million subscribers in its domestic market in the first three months of this year, taking its customer base to just under 60 million.

Russia, Mobile TeleSystems (MTS)