MTS sees profits up 30%

13 Aug 2008

Russia’s largest cellular operator, Mobile TeleSystems (MTS), has reported a 30% jump in second-quarter profits to USD659 million on the back of an increase in usage, the addition of new subscribers and a rise in the value of the ruble against the dollar. Revenues under US GAAP rose 34%, from USD1.97 billion in Q2-2007 to USD2.64 billion in the same period this year. The MTS group had 87 million subscribers in Russia and the CIS at the end of June, up by 12 million from twelve months earlier.

Russia, Mobile TeleSystems (MTS)