10:51 GMT +323 January 2019
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    MegaFon raises U.S. GAAP profit 59% to almost $25 mln in 9 months

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    MOSCOW, December 24 (RIA Novosti) - MegaFon [RTS: MEGF], Russia's third largest mobile operator, increased its U.S. GAAP net profit 59%, year-on-year, in January-September 2007 to $24.8 million.

    According to the company, revenues were $101.7 million in the reporting period, a 42% rise on the same period in 2006. The company's EBITDA (earnings before interest, taxes, depreciation and amortization) grew 46% to $52.5 million.

    In the third quarter of 2007, MegaFon's net profit stood at $10.4 million, a 54% rise on July-September 2006. Revenues rose 33% to $38 million, and EBITDA 41% to $20.2 million.

    MegaFon was established in 2002. Its major shareholders are Finnish-Swedish TeliaSonera, Telecominvest, CT-Mobile and IPOC International Growth Fund Ltd.

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