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Dalsvyaz telecom co. net profit rises 120% in 1H06, to $13.5 mln

MOSCOW, September 15 (RIA Novosti) - Dalsvyaz [RTS: ESPK] said Friday its net profit calculated to Russian Accounting Standards rose 120% in the first six months of 2006 year-on-year to 367 million rubles (about $13.5 million).

The Far Eastern telecoms provider said earnings grew 4.3% in the reporting period to 5.17 billion rubles (about $190 million), whereas revenues from communications services increased 2.2% year-on-year, to 4.98 billion rubles (about $181 million).

Dalsvyaz, majority-owned by state-owned telecoms holding Svyazinvest (50.6% of the voting stock and 38.1% of the charter capital), said sales profits rose 21.7% in the reporting period to 1.65 billion rubles (about $61 million).

Operating income before depreciation and amortization (OIBDA) rose 160% year-on-year to 998.7 million rubles ($37 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) were up 73.2% to 1.67 billion rubles ($62.5 million).

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