The revenues to the Svyazinvest company rose by 23.5 percent to RUR32.64bn ($1.07bn) in the first quarter of 2003, compared to those in the corresponding period of last year, a representative of the company reported. Svyazinvest's expenditures grew by 26.7 percent to RUR23.71bn ($775.6m). The profit from sales increased by 15.8 percent to RUR8.93bn ($292.12m).
The Svyazinvest holding company comprises 7 interregional telecommunication companies, the national and international long-distance operator Rostelecom, 6 communication operators that did not participate in the reorganization process, and the Giprosvyaz research institute for telecommunications. These companies have licenses to provide local, national long-distance and international long-distance telephone services, data transmission services, Internet access, ISDN, wireless access for users and cellular communication services.