Source Pravda.Ru

Rostelecom's Net Profits Grow by 3.2%

Rostelecom joint stock company made a net profit of USD 94.9 million for the January-September period of 2002, a year-on-year increase of 3.2%. According to the company's press office, consolidated profit for the first nine months of 2002 totaled USD 622.8 million, a year-on-year increase of 3.5%, while operational profit for the same period totaled USD 101.2 million. These figures are taken from the company's unaudited financial accounts for the first nine months and third quarter of 2002.

According to the press office, the financial accounts for the third quarter and the first nine months of 2002 include the financial accounts of Rostelecom and its subsidiaries: RTK-Leasing, RosTelecomLeasing (Switzerland), RTDK Holdings (USA), Russian Industrial Bank, Vestelecom, RTKomm.RU. The financial accounts of these companies were not included in Rostelecom's financial report of 2001( except for RTK-Leasing) as they were either only beginning transactions or were purchased by Rostelecom in 2002.

Rostelecom is the national operator for long-distance and international telecommunications. The company connects Russia to 211 countries and has direct lines to 75 operators in 72 countries. The main shareholder in the joint stock company is Svyazinvest with 50.67% of the shares. Foreign shareholders own 41.48% of the shares, Russian shareholders 5.49% and Rostelecom employees 2.36%.

© &to=http://www.rosbaltnews.com/' target=_blank>RosBalt

&to=http://www.rt.ru/' target=_blank>ROSTELECOM

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