Rostelecom posts four fold increase in Net Profit for 1H 2008
Russian fixed line telecom, Rostelecom, as posted a 1H 2008 Net Profit of 9.8 Billion Roubles ($350.84 million) under IFRS.
The bottom line is up 286% for the half from the 2.545 Billion Roubles posted over the same period 2007. OIBDA for the half was up 14% to 7.8 Billion Roubles ($279.24) year on year, on the back of Revenues of 31.39 Billion Roubles ($1.12 Billion), down 1.1% year on year.
Rostelecom said the results were underpinned by strong growth in internet access services, intelligent network services, and technical support and customer equipment servicing. It also noted an increase in international calls, stemming from its increased partnering with global networks.