Center Telecom reports net profit of RUB4.16 billion for 1H

2 Sep 2010

Russian telco Center Telecom has reported a net profit of RUB4.16 billion (USD135 million) for the six months ended 30 June 2010. This figure represents an increase of 42% from RUB2.93 billion one year earlier. Revenues for 1H 2010 increased from RUB18.21 billion to RUB19.98 billion, up 9.7%. According to a company statement, higher 1H 2010 revenues were mostly due to the increased number of broadband internet subscribers, which grew 55.5% year-on-year to reach 1.4 million users. Center Telecom CEO Vaagn Martirosyan commented: ‘Center Telecom continues to demonstrate stable high performance – the number of broadband internet subscribers keeps on growing, the company is increasing its net profit and steadily cutting its debt burden.’

Russia, Center Telecom