04:37 GMT +318 February 2018
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    Sibirtelecom says net profits up 7.9% in 2005 to $23.5 mln

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    MOSCOW, March 31 (RIA Novosti) - Major Siberian telecommunications company Sibirtelecom Friday announced net profits for 2005 of 708.1 million rubles (about $23.5 million), up 7.9% on 2004

    Revenues were up 15.1%, to 21.906.7 billion rubles (about $700 million), and mostly came from higher subscription fees and expanded international, inter-urban and Internet traffic, as well as better mobile communications and a rise in local telephone fees.

    EBITDA stood at 5.536.5 billion rubles (about $185 million), up 13.3%.

    Sibirtelecom's operating costs in 2005 were up 17.1%, at 18.883.1 billion rubles (about $600 million), with wages, deductions to social insurance, amortization, and outsourcing accounting for most of the increase.

    Equity investment in 2005 was 6.15 billion rubles (about $200 million), up 9.5% on 2004.

    The bulk of capital investment went on development of local telephone services, data transmission networks, and communication infrastructure. The share of investment in provision of new services in 2005 was 12%.

    Sibirtelecom is part of state-run communications holding company Svyazinvest, and provides communications services in the Siberian Federal District. The profit report was done to Russian accounting standards.

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