Rostelecom boosts RAS revenue 4.6% in 9M to 215 bln rubles
MOSCOW. Nov 14 (Interfax) - Rostelecom boosted revenue to Russian Accounting Standards (RAS) 4.6% year-on-year in January-September 2014 to 214.6 billion rubles, the company said in a statement.
Net profit advanced 2% to 24 billion rubles.
Rostelecom's posted revenue at 143.2 billion rubles (up 5.3% year-on-year) in H1. So in Q3, revenue was 71.4 billion rubles, and its rate of growth slowed to 3%. In Q2 revenue growth was 3.2% and in Q1 - 8.2%.
Revenue from connection services for the 9M grew 2.5% to 194 billion rubles. Cost of sales increased by 7.8% to 182 billion rubles, including connection services - by 6.3% to 172 billion rubles.
Long-term liabilities of Rostelecom at the end of September amounted to 183 billion rubles against 214 billion rubles at the end of last year. Short-term liabilities rose to 88.4 billion rubles from 83.6 billion rubles.
The RAS report does not give a full picture of the group's performance because it does not include the results for subsidiary companies. The results for Rostelecom's 20 subsidiaries and OJSC Svyazinvest, which merged with Rostelecom on October 1, 2013, were not taken into account in the report for the 9M of last year. The figures of mobile assets that were allocated on April 1 to CJSC RT-Mobile (a joint venture with Tele2 that was announced on August 6) were not included in the reports for Q2 or Q3 of this year.
Rostelecom is publishing the results of Q3 to International Financial Reporting Standards (IFRS) on November 18.