Source Pravda.Ru

Rostelecom's net profit was $24m in first half of 2002

Rostelecom's net profit was RUR762m (around $24.19m) in the first half of2002, a decrease of 52 percent from the figure reported in the first halfof last year. A decrease in the company's net profit was due to changes inforeign currency exchange rates and deferred taxes, Rostelecom's pressservice reported. As of today, Rostelecom's financial reports for the firsthalf of this year according to international accounting standards have notbeen audited yet. The company's EBITDA was RUR5.436bn (around $172.57m) inthe first half of 2002, an increase of 29 percent from the figure reportedin the similar period last year; the EBITDA coefficient was 43 percentagainst 48 percent reported for the first half of 2001. The company's operating profit was RUR1.911bn (around $60.66m) in the firsthalf of 2002, an increase of 67 percent from the figure of thecorresponding period last year. The company's revenues grew 12.8 percent toRUR12.52bn (around $397.4m) in the first half of 2002 as compared to thefigure posted in the first half of last year. Rostelecom's domestic longdistance traffic rose 14 percent in the first half of this year, while thecompany's international long distance traffic rose 11 percent against thefigure of the first half of last year. The company's debt was RUR488m(around $15.49m) at the end of the first half of 2002, up 76 percent fromthe figure reported at the start of the corresponding period last year(RUR2.033bn or around $63.58m)..

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