Bloomberg News

Sibirtelecom of Russia Says First-Half Net Income Rises 6%

October 01, 2007

OAO Sibirtelecom, a unit of state- controlled phone monopoly OAO Svyazinvest, said first-half profit rose 6 percent.

Net income at the provider of phone services in the Siberian part of Russia rose to 1.93 billion rubles ($77.6 million), the Novosibirsk, Russia-based company said today in an e-mailed statement. Sales increased 20 percent to 17 billion rubles under international accounting standards.

Operating income before depreciation and amortization, or Oibda, rose 16 percent to 5.96 billion rubles, the company said. Oibda as a percentage of sales fell to 35.1 percent from 36.3 percent a year earlier.

To contact the reporter on this story: Lyubov Pronina in Moscow at lpronina@bloomberg.net

To contact the editor responsible for this story: Lars Klemming at lklemming@bloomberg.net.


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