15 Dec 2010 11:55

Northwest Telecom boosts earnings 80% in 9M

ST. PETERSBURG. Dec 15 (Interfax) - Northwest Telecom (NWT) , the incumbent fixed-line provider in Northwest Russia, closed January-September 2010 with net profit of 4.037 billion rubles to International Financial Reporting Standards (IFRS), 80% higher than in the same period of last year, the company said in a financial report.

Unaudited sales revenue grew 7.2% year-on-year to 21.065 billion rubles, operating profit - 32.4% to 5.775 billion rubles and pre-tax profit - 78% to 5.095 billion rubles.

Earnings before taxes, depreciation and amortization (EBITDA) rose 22% to 10.807 billion rubles and the EBITDA margin grew 6.2 percentage points to 51.3%.

Svyazinvest owns 39.528% issued shares (50.76% ordinary shares) in NWT.