Sibirtelecom reports 6% increase in net profit

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MOSCOW, October 31 (RIA Novosti) - Siberian major communications provider Sibirtelecom said Monday that it increased its net profit by 6% to 824.2 million rubles (about $29 million) in the first nine months of 2005.

The company's sales rose by 16.5% to about 16 billion rubles (about 563 million) in the reporting period. Most of its revenues came from growth in the subscription fee, the expansion of international, inter-urban and Internet traffic, the development of mobile communications and a rise in local telephone fees.

Sibirtelecom is integrated into Russian state-run communications holding company Svyazinvest and provides communications services in the Siberian Federal District. It prepared its profit report on the basis of Russian accounting standards.

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