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1 Sep, 2010 13:55

Center Telecom posts 1H 2010 Net Profit of 4.16 billion roubles

Center Telecom posts 1H 2010 Net Profit of 4.16 billion roubles

Russian telecoms company Center Telecom has posted a 1H 2010 Net Profit of 4.16 billion roubles.

The bottom line is up 42% year on year, with EBITDA also increasing 11.8% to 9.5 billion roubles from 8.5 billion roubles posted for 1H 2009 and revenues going up 9.7% to 20 billion roubles from 18.2 billion roubles a year before.

According to the 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, and increased revenues from local telecom services, which in turn went up 12.5% year on year to 9.3 billion roubles in 1H 2010.

Vaagn Martirosyan, CEO at Center Telecom, was upbeat commenting on the results and underlined the company’s continued growth coupled with lowering debts.

“Centre 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.”