03 June 2004 05:25
Svyazinvest Q1 net profit up 31% to 5.49 bln rubles
MOSCOW. June 3 (Interfax) - Svyazinvest netted 5.49 billion rubles of profit to Russian accounting standards in the
first quarter of 2004, a 31.11% year-on-year increase, a press release from the telecommunications holding reports.
Revenues came to 43.35 billion rubles (up 32.77%), spending to 32.25 billion rubles (up 36.19%) and sales profits to
11.09 billion rubles (up 23.73%).
The holding's companies did 6.93 billion rubles worth of capital investment in the first quarter, 58.7% more
year-on-year. The average payroll dropped 3.3% to 342,426 workers.
Svyazinvest general director Valery Yashin is cited in the release as saying, "Svyazinvest management was
pleased with the financial and production results of operator activities in the first quarter of 2004." "The
companies posted good results, allowing them to achieve the revenue and profit growth planned for this year. Companies
in the Volga and Urals developed most dynamically of all. The leader in the reporting period was Rostelecom, showing
doubled net profits," he said. [RU EUROPE EEU ASIA EMRG TEL RES CORA] cf
[Interfax] |
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