MOSCOW, June 3 (RIA Novosti) - Svyazinvest's aggregate net profit, calculated to Russian Accounting Standards, in the first quarter of 2008 was down 6% to 8.413 billion rubles ($354.23 million), the Russian telecoms giant said Tuesday.
Svyazinvest said the decrease in the net profit was due to increased expenditures caused by higher amortization expenses.
The holding's sales earnings in January-March grew 5.3% to 61.76 billion rubles ($2.6 billion).
The Russian property agency is Svyazinvest's main shareholder, holding 75% minus one share.
