AFK Sistema's US GAAP net profit up four times to $381 mln in Q1, beats forecasts

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AFK Sistema's US GAAP net profit up four times to $381 mln in Q1, beats forecasts

MOSCOW. May 31 (Interfax) - AFK Sistema's US GAAP net profit for the first quarter of 2012 increased four times to $381 million from $97 million in the same period of 2011, the company said in a statement.

Investment bank analysts earlier forecast the company's net profit for the first quarter at $360 million.