Russia’s largest mobile operator Mobile Telesystems has reported a 35% increase in its net profit to $654.7m compared to $486.3m for its third quarter ended September 2007. This increase was driven by increase in usage and subscriber base.
The company’s revenue grew 23.3% year-on-year to $2.2 billion for the quarter compared to $1.8 billion for the same period in 2006. The operating income increased by 16.9% to reach $801.8m compared to $685.5m in the previous year. In addition, it reported diluted earnings per share as 33 cents compared with 24 cents in the same period of 2006. The company retained its forecast for 22 percent revenue growth for the year.
We continue building networks in markets with low penetration, in Uzbekistan and Turkmenistan, and expect that in the coming years their contribution to the sales of the group will increase,” said Leonid Melamed, chief executive at Mobile Telesystems.
The company reported approximately 78 million subscribers in the CIS regions with 3.3 million additions in the third quarter. Pre-paid tariff customers accounted for over 90% of the subscribers in the third quarter.
Source: ComputerWire daily updates