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Rostelecom posts 1H 2010 Net Profit of 1.9 billion Roubles

Rostelecom posts 1H 2010 Net Profit of 1.9 billion Roubles
Russian fixed line provider, Rostelecom, has posted a 1H 2010 Net Profit of 1.9 billion Roubles under IFRS.

The bottom line is up by 31% year on year from the Net profit of 1.4 billion Rouble in 1H 2009, OIBDA was up 1% year on year to RUB 5.8 billion, on the back of a 35.7% year on year growth in sales revenue to 30.0 billion Roubles.

The company said in the statement that the performance reflected growing revenues from new and value-added services (including data services, INS, leased lines and customer equipment services), offset by a 15.2% decrease in revenues from traditional voice services to 19.3 billion roubles, with international and long-distance services falling 11.3% to12.14 billion roubles Rostelecom said revenue from traditional services fell as users continued to migrate to cellular providers.

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