Far East Telecom 2007 results

3 Jul 2008

Russian regional telco Far East Telecom’s net profit under International Financial Reporting Standards (IFRS) leapt to RUB1.36 billion (USD58 million) in 2007 from RUB115 million in 2006 after revisions. Profit before tax increased to RUB2 billion from RUB518 million a year earlier, while revenues increased to RUB15 billion, up 37.6% year-on-year.

Far East Telecom is 38% owned by national telecoms group Svyazinvest and also has wireless operations in the Kamchatka, Magadan and Primorsky regions, and licences covering the Sakhalin and Chukotka regions.

Russia, Far East Telecom (Dalsvyaz), Svyazinvest