MOSCOW, May 4 (RIA Novosti) - Southern Telecommunications Company (RTS: KUBN) said Thursday its net profit calculated to Russian accounting standards increased 26.5% year-on-year to $11.2 million in 2005.
The company, the main fixed-line service provider in southern Russia, achieved 8.2% growth in earnings to $666.5 million, including a 9.6% increase in revenues from telecoms services to $657 million.
The company, whose main shareholder is state-controlled telecom holding company Svyazinvest, with a 38.16% stake, said there was a trend for earnings from local communications and innovative services, such as data services and Internet access, to displace those from long-range communications.
Sales profits grew by 24.9% to $147.7 million, and EBITDA reached almost $200 million, up 27.8% year-on-year.
