12 Apr 2010 12:45

NWT doubles RAS sales revenue in 2009 by 7%

ST. PETERSBURG. April 12 (Interfax) - North-West Telecom (NWT) posted 26.295 billion rubles in sales revenue according to Russian accounting standards (RAS) for 2009, which is an increase of 7.2% from 2008, the company said in its financial reporting.

NWT's sales revenue from sales of telecom services increased by 6% to 24.104 billion rubles.

Operational costs in 2009 went up by 16.2% to 23.987 billion rubles. Profit from sales dropped by 40.6% to 2.308 billion rubles while pretax profit went down by 7.7% to 4.406 billion rubles.

NWT's short-term accounts receivable increased from 3.092 billion rubles on January 1 to 3.567 billion rubles as of January 31. Short-term accounts payable dropped from 3.927 billion rubles to 3.335 billion rubles.

The company's net profit in 2009 dropped b 4% to 3.47 billion rubles.

NWT is the incumbent fixed-line operator in Russia's northwest. Svyazinvest owns 50.76% of voting shares (39.528% of equity).