Comstar Q1 results

6 Jun 2008

Comstar has reported first quarter net profit of USD54.1 million, an increase of 24% from USD43.7 million twelve months previously. Revenue totalled USD417 million, up 27% from USD328.9 million last year, while operating income rose 31% year-on-year to USD121.3 million. It gained 108,000 subscribers for its broadband internet service, equating to an 80% increase year-on-year and 14% increase quarter-on-quarter, as it now reaches 850,000 users. CFO Irina Matveeva said, ‘Our revenue growth in the first quarter was primarily driven by continuing high customer demand for Comstar’s unlimited tariff plan, the growing proportion of regional revenues, and increasing fixed to mobile traffic’.

Russia, Comstar United TeleSystems (Comstar UTS)