Elektrosvyaz posts financial figures

The net profit of the Irkutsk region based Elektrosvyaz company amounted to55.3m rubles ($1.76m) in the first half of 2002, which was 101 percent ofthe planned volume, the press center of the company told RBC. The company'sbalance profit was 81.2bn rubles ($2.58m) in the period from January toJune 2002. Revenues from telecommunication services, not taking intoaccount value-added tax, were 722,5m rubles ($22.94m) in the first half of2002, which was 24 percent higher than in the corresponding period of lastyear. Revenues from new services were 16.5m rubles ($524,000) in the periodfrom January to June 2002, which was 20 percent more than in the first sixmonths of 2001. Sales proceeds (not taking into account value-added tax)advanced by 24 percent to 731.9m rubles ($23.23m). The enterprise's rate ofreturn in terms of operating profits was 20 percent. Elektrosvyaz allocated96m rubles ($3.05m) in capital investments in the first half of 2002. Some19,200 new telephone lines were put into operation. The authorized capitalof the company is 509.666m rubles ($16.18m) and it is divided into1,019,272 shares, including 25 percent of preferred shares. Elektrosvyaz'slarge shareholders are Svyazinvest with a 38 percent stake, DKK with a 7.1percent block of shares and Bransvik Varburg Nominees with 4.6 percent..