Golden Telecom, which provides integrated telecom and Internet services in major cities of Russia and the Commonwealth of Independent States, a loose association of former Soviet republics, said its gross revenues in April-June had climbed 19% year-on-year to $197 million.
Revenue from services to corporate clients, its core business, grew 17% to $113 million.
Golden Telecom, an independent operator with its own infrastructure for providing comprehensive telecoms and Internet services, attributed the growth in core business revenue to rising demand for cable communication services, slower growth in tariffs in Russia, and regional expansion.
Golden Telecom, whose key shareholders are Altimo (which holds a 29% stake), Telenor (20%) and Rostelecom (11%), said its earnings before interest, taxes, depreciation and amortization (EBITDA) had grown 15%, year-on-year in January-June 2006 to $57.9 million as of June 30.
