Comstar UTS posts 1H 2009 Net Income of $42.6 million

Russian communications conglomerate, Comstar – UTS, has posted a 1H 2009 Net Income of $42.6 million under U.S. GAAP.

The bottom line is down 28% year on year, despite a 15% rise in 1H OIBDA to $275.7 million accompanying a 15% year on year rise in consolidated revenues to $698 million.

The 1H result included an improved 2Q 2009 showing a Net Income of $30 million, up 36% year on year, with 2Q OIBDA coming in at $149.3 million, up 28% year on year, on the back of consolidated revenues of $363.6 million, up 19% year on year.