Rostelecom posts net profits

The non-audited net profits of Russia's telecom giant Rostelecom amounted to $94.9m over the first nine months of 2002, which was 3.2 percent more than the corresponding figure of 2001. This index was calculated according to International Accounting Standards. As the company's press service reported, Rostelecom's earnings before interest, tax, depreciation and amortization (EBITDA) reached $268.6m gaining 26.6 percent against the corresponding period of 2001. The EBITDA ratio amounted to 43.1 percent as compared to 35.3 percent over the first three quarters of 2001.

In the consolidated report for the first nine months of 2002, operational profits were $101.2m advancing almost double the similar figure of 2001. Net profits went up by 10.7 percent to $464.2m.

As compared to the first nine months of 2001, the volume of long-distance traffic grew by 13.4 percent, of outgoing international traffic - by 11.2 percent, and of incoming international traffic - by 7.5 percent. Rostelecom's consolidated earnings, including its subsidiaries, gained 3.5 percent in the first nine months of 2002 against the corresponding period of 2001, and reached $622.8m.

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