22:13 GMT +322 June 2018
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    AFK Sistema US GAAP net profit rises 87% in 9M06

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    MOSCOW, December 21 (RIA Novosti) - AFK Sistema [RTS: AFKS] said Thursday its net profit calculated to US GAAP increased 87% year-on-year in the first nine months of the year, to $810.1 million.

    AFK Sistema, one of Russia's largest diversified corporations, with business ranging from banking to telecommunications, said its consolidated earnings increased 38% to $7.5 billion in the reporting period.

    Operating income before depreciation and amortization (OIBDA) rose 31% year-on-year in January-September 2006 to $3 billion.

    Founded in 1993, AFK Sistema manages businesses in service-based industries, including telecommunications, technology, insurance, banking, real estate, retail and media. The company's main shareholder is Vladimir Yevtushenkov (62.1%), who is also its founder and board chairman.

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