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31 May, 2010 13:29

Volgatelecom posts FY 2009 net profit of 4.181 billion roubles.

Volgatelecom posts FY 2009 net profit of 4.181 billion roubles.

Regional Russian telecom, Volgatelecom, has posted a FY 2009 net profit of 4.181 billion roubles under IFRS.

The bottom line is up 42% year on year with FY 2009 EBITDA rising 20% to 14.411 billion roubles as sales increased 2.2% to 32.759 billion roubles.

The company said a key driver of the result was a focus on cost management, coupled with a 28% jump in the number of broadband internet users to 994 thousand, as it opened 226,000 broadband Internet portals. This helped to offset a fall in the inter regional call revenues. Volgatelecom also noted it had reduced debt by 45% during the year.