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4 Sep, 2007 09:05

Profits of Russian mobile operator rocket up

The net profits of MTS, Russia’s largest mobile phone company, rose 72% for the second quarter, to top $US 500 MLN, beating analysts’ expectations.

Revenues were up 32% at just shy of $US 2 BLN.

“The market, in general terms, in the majority of countries of our presence develops in a very promising way, and we see serious increase both in demand of customers and in the usage activity of our customers. This is due to the favourable economic situation in the CIS countries. On the other hand, it is due to very concrete and aggressive marketing activities of the operators, including, I would say, MTS, to stimulate the consumption of our services,” commented Leonid Melamed, the President of MTS.