MOSCOW, October 24 (RIA Novosti) - Russian telecommunications company Uralsvyazinform reported Monday that its consolidated net profit for the first half of 2005 totaled 1.015 billion rubles (around $35 million).
This was the company's first bi-annual accounting report using International Financial Reporting Standards.
Uralsvyazinform's revenue during the first six months totaled $513 million, pre-tax profit $56 million and operating profit $88 million.
Uralsvyazinform is the largest telecommunications operator in the Urals Federal District. As of September 1, 41.4% of the stock is owned by Svyazinvest.
The government has so far privatized a 25% stake in Svyazinvest and has plans to privatize a majority stake in the holding.
