AKADO posts first profit since 2006; generates RUB308m in 1H13

3 Sep 2013

Moscow-based AKADO Telecom, which is in the process of being sold to ER-Telecom, has reportedly posted a net profit for the first time since 2006. According to Broadband TV News, which cites business daily Vedomosti, the company found itself RUB307.9 million (USD9.2 million) in the black in the first half of this year, compared to a net loss of RUB37.9 million in the year-ago period. Revenues for 1H13 grew 21% to RUB6.2 billion, while EBITDA increased 41% to RUB2.7 billion.

Russia, AKADO Telecom