VimpelCom earnings shrink 27% to 10.6 bln rubles in H1
MOSCOW. Aug 14 (Interfax) - PJSC VimpelCom saw its net profit to Russian Accounting Standards (RAS) plummet 27.2% year-on-year in H1 2017 to 10.6 billion rubles, the telco said in a report.
Sales revenue grew 0.4% year-on-year to 132.5 billion rubles, gross profit rose 7% to 77.7 billion rubles and cost of sales fell 7% to 77.7 billion rubles.
Operating profit was 36.6 billion rubles, up 3.5% year-on-year, while profit before tax fell 32% to 12.6 billion rubles.
Administrative expenses jumped 10.5% to 41 billion rubles, from 37 billion rubles in H1 2016.
VimpelCom has already unveiled H1 207 financial results to International Financial Reporting Standards (IFRS), but without net profit. Sales revenue to IFRS rose 0.4% year-on-year to 132.9 billion rubles but adjusted EBITDA fell 1.4% to 51.2 billion rubles.
