MOSCOW, May 16 (RIA Novosti) - MegaFon (RTS: MEGF) said Tuesday its net profit in 2005 calculated to Russian accounting standards had increased year-on-year by 32.4% to 4.144 billion rubles ($153 million).
Russia's third largest cellphone operator said its earnings stood at 26.2 billion rubles ($973 mln), up 41.2%. Gross profits rose by 35.2% to almost 14 billion rubles ($515 mln), and sales proceeds leaped by 44% to almost 8.2 billion rubles ($303 mln).
MegaFon was established in 2002 with a charter capital of $2.2 million. Its shareholders are the Finnish-Swedish TeliaSonera (35.6%), Telecominvest (31.3%), CT-Mobile (25.1%), IPOC International Growth Fund Ltd. (8%) and West Link Ltd. (1.5%).
