VolgaTelecom posts 1H 2010 Net Profit of 2.8 billion Roubles

Volga region telecom provider, VolgaTelecom, has posted a 1H 2010 Net Profit of 2.8 billion Roubles.

The bottom line is up 52.6 % year on year from the 1H 2009 net result of 1.8 billion roubles, with EBITDA increasing 9.2% year on year to 7.7 billion Roubles, on the back of a 6.1% year on year increase in Revenues to 17.1 billion Roubles.

The company attributed its higher net result to the growth in revenues, which outpaced operational expenses. VolgaTelecom added that this was coupled with lower interest expenditure, stemming from an anti crisis strategy aimed at increasing free cash flow.