MOSCOW, November 1 (RIA Novosti) - Sitronics, a high-tech arm of Russia's AFK Sistema [RTS: AFKS], said Wednesday its U.S. GAAP net profit fell 26.9%, year-on-year, in the first six months of the year, to $33.11 million.
Sales grew 65.68% in January-June 2006, year-on-year, to $699.44 million. Operating profit narrowed 36.77%, to $62.8 billion, and operating income before depreciation and amortization (OIBDA) was down 18.5% to $85.3 million.
AFK Sistema is the leading Russian telecoms and services holding company.
Sitronics was established in May 1997. Its companies deal with telecommunications equipment, software production and security system introduction.
