Rostelecom`s 9m 2009 Net Profit Decreased By 72.5% Y-O-Y
•As a result of the growth in operating expenses of almost 6.0%, while the revenue remained at a stable level, the Company’s first nine months 2009 operating profit decreased by 36.6% year on year to RUB 3930.0 million, with an operating margin of 8.1%. BBA expects that the company will decrease its operating expenses slightly in mid-term already.
•Other income for the first nine months of 2009 amounted to RUB 266.0 million compared to other income of RUB 9587.0 million in the same period a year ago. This difference is attributable to the significant additional income realized following the sale of investments in the period of first nine months of 2008. In February 2008, OJSC Rostelecom sold its stake in Golden Telecom, Inc. and the profit from this transaction before tax amounted to RUB 8666 million.
•The Company’s first nine months 2009 consolidated net profit decreased by 72.5% and totaled RUB 3,261.0 million. Net margin amounted to 6.7%. It should be mentioned that in USD terms the decrease of net profit would have been even more dramatic, taking into account the different value of Ruble in 2008 and in 2009.
Read more in following report:
Rostelecom (ROS, RTKM), RTKM 9m 2009 Analyst Update 12/29/09
•As a result of the growth in operating expenses of almost 6.0%, while the revenue remained at a stable level, the Company’s first nine months 2009 operating profit decreased by 36.6% year on year to RUB 3930.0 million, with an operating margin of 8.1%. BBA expects that the company will decrease its operating expenses slightly in mid-term already.
•Other income for the first nine months of 2009 amounted to RUB 266.0 million compared to other income of RUB 9587.0 million in the same period a year ago. This difference is attributable to the significant additional income realized following the sale of investments in the period of first nine months of 2008. In February 2008, OJSC Rostelecom sold its stake in Golden Telecom, Inc. and the profit from this transaction before tax amounted to RUB 8666 million.
•The Company’s first nine months 2009 consolidated net profit decreased by 72.5% and totaled RUB 3,261.0 million. Net margin amounted to 6.7%. It should be mentioned that in USD terms the decrease of net profit would have been even more dramatic, taking into account the different value of Ruble in 2008 and in 2009.
Read more in following report:
Rostelecom (ROS, RTKM), RTKM 9m 2009 Analyst Update 12/29/09
