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.
