MOSCOW, November 18 (RIA Novosti) - The consolidated earnings of Southern Telecommunications Company (STC) in the first half of 2005 totaled $311 million by International Financial Reporting Standards (IFRS), the company said Friday.
Most of the sum comes from communications services revenue, which totaled $296.19 million, around 95% of overall earnings.
Earnings before Interest, Taxes, Depreciation, and Amortization reached $117 million and operational profit, $34 million.
The results were published following STC's first IFRS report. The company had previously announced half-year earnings of $300 million by Russian Accounting Standards, which represented a 10.9% year-on-year increase.
STC is a subsidiary of Svyazinvest and operates in 10 Russian regions providing telecom services.
