Southern Telecommunications Co. RAS net profit up 670% in 9M06

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MOSCOW, October 31 (RIA Novosti) - Southern Telecommunications Company [RTS: KUBN] said Tuesday its net profit calculated to Russian Accounting Standards (RAS) increased 670% year-on-year in the first nine months of 2006 to 1.4 billion rubles (about 51.9 million).

The company, the main fixed-line service provider in southern Russia, said EBITDA grew 44.7% in the reporting period to 5.44 billion rubles (about $201.5 million), and sales profit climbed 19.2% to 3.92 billion rubles (about $145 million).

The company's main shareholder is state-controlled telecoms giant Svyazinvest with a 38.16% stake.

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