MOSCOW, September 4 (RIA Novosti) - Russian cell phone operator MTS [RTS: MTSS] said Tuesday its US GAAP net profit increased 99.7% year-on-year in the first six months of 2007, to $956.5 million.
The operator said sales grew 33% in the reporting period to $3.71 billion and OIBDA (operating income before depreciation and amortization) gained 45% to $1.92 billion.
MTS is the largest mobile phone operator in Russia and in Central and Eastern Europe in terms of franchises. A controlling stake of 52.8% is held by AFK Sistema, one of Russia's largest diversified corporations, while 46.7% of the company's shares are in free float.
MTS shares are traded on the Moscow InterBank Currency Exchange (MICEX), on the New York Stock Exchange in the form of American Depositary Receipts (ADRs) and on the over-the-counter market in Europe in the form of Global Depositary Receipts (GDRs).
