MOSCOW, February 1 (RIA Novosti) - Russian communications provider North-Western Telecom saw net profits rise by 28% in 2005, under Russian accounting standards, the company said Wednesday.
The increase took the profits at the firm - the largest communications provider in Russia's north-western federal district - to just over 1.8 billion rubles ($62.9 million).
The company's sales rose by 13% in 2005 from a year earlier to 20.1 billion rubles, while its pre-tax profit was up 31% to 5 billion rubles, it said.
The firm is expected to channel 397 million rubles, or almost 22% of its net profit, into dividend payments to shareholders.
In the reporting period, the company switched on 391,000 phone numbers, including 125,000 new numbers and 266,000 replacements.
North-Western Telecom is integrated into the state-controlled Svyazinvest telecoms holding, which is expected to be privatized this year.
