MOSCOW, May 11 (RIA Novosti) - MGTS (RTS:MGTS), Moscow's fixed-line telephone monopoly, announced Thursday a year-on-year increase in net profit of 11.7% in 2005 to $161.5 million calculated to U.S. GAAP standards.
Alexei Goltsov, MGTS general-director, told a news conference that company revenues had grown 33% to $639.624 mln in the same period, mainly attributing the increase to new services including broadband Internet access and higher rates for fixed-line services.
Goltsov said the company was planning to increase its capital investment in 2006 by 52% year-on-year to $294 mln from $194 mln in 2005.
