Uralsvyazinform net profit up 10.4% in 2008

16 Jun 2009

Russian telco Uralsvyazinform has released its audited financial results under International Financial Reporting Standards (IFRS) for the full-year 2008. The company reported a net profit of RUB2.54 billion (USD81.56 million) for the year ending 31 December 2008, a 10.4% year-on-year rise. The gains were driven by a 3.9% rise in revenues, up to RUB40.7 billion in 2008 compared to RUB39.15 billion in the previous year. Revenues from data transmission and internet services recorded the largest growth, up 49.6% to RUB5.2 billion at year-end. Mobile revenues climbed to RUB13.2 billion, up 5.5% year-on-year. Operating expenses increased over the year, up 6.2% to RUB35.9 billion as depreciation, amortisation and interconnection costs mounted. The company ended 2008 with 3.72 million fixed line customers, up 0.6% from December 2007. Mobile subscriptions grew 11.8% to 5.7 million in 2008 while broadband subscriptions grew from 294,600 at the end of 2007 to 541,200 a year later.

Russia, Svyazinvest, Uralsvyazinform