10 Aug 2010 13:54

Bashinformsvyaz boosts net profit in H1

UFA. Aug 10 (Interfax) - Ufa-based OJSC Bashinformsvyaz increased net profit by 2.6% year-on-year to 346.63 million rubles in the first half of 2010, the company told Interfax.

The company's gross profit went up by 2.4% to 627.9 million rubles while sales revenue increased by 3.9% to 2.733 billion rubles.

A company representative said that the increase in net profit had been driven by "active development of new services such as broadband Internet access and IP television, as well as an increase in tariffs for local telecommunications services as of March."

It was earlier reported that Bashinformsvyaz plans to increase sales revenue by 2.4% in 2010 to 5.5 billion rubles. At the same time, the company forecasts net profit to drop by 10% to 569 million rubles.

Bashinformsvyaz is the main provider of fixed lined services in Bashkortostan's telecommunications market. The state owns 28.24% in the company's charter capital, CJSC Depository Clearing Company - 33.22% in trust management and OJSC UralSib - 28.24%.