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Volga's telecoms co. posts 30% net profit rise in 2005


KAZAN, June 19 (RIA Novosti) - Tattelecom, a regional Russian telecoms company, said Monday its net profit rose 30% year on year in 2005 to 419 million rubles (about $14.6 million).

Tattelecom, based in Volga's Republic of Tatarstan, said its sales had increased 17.3% in 2005 to more than 3 billion rubles (about $105 million). In the reporting period, the company said it had transferred 657.5 million rubles (about $23 million) to the budgets of all levels, including 392.6 million rubles ($13.7 million) to the federal budget.

Tattelecom, Tatarstan's largest fixed-line operator, said it had increased its subscriber base by 86,200 in 2005 or 2,100 more than in 2004.

At an annual meeting, Tattelecom's shareholders voted to spend 19.6% of the company's net profit or more than 82.1 million rubles (about $3 million) on dividend pay-outs for 2005.

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