Northwest Telecom posts 9M 2010 net profit of 4.037 billion roubles

Northwest Telecom the incumbent fixed-line provider in Northwest Russia has posted a 9M 2010net profit of 4.037 billion roubles under IFRS.

The bottom line is up 82.3% year on year, with EBITDA up 22% year on year to 10.807 billion roubles, on the back of a 7.2% increase in operational revenues to 21.065 million roubles.The company attributed the result to a significant growth of revenues from data transfers and internet service along with accelerating demand for local telecommunication service sales, which were up 15.4% and 6.2% respectively. Venera Khusnutdinova Director of Economics and Finance, North-West Telecom hailed the results saying that the company has almost tripled the income results against expenditures for the 9M period of 2010.“The NWT has significantly improved its financial and economic indicators in 2010, which has resulted in an adequate and rapid response of the market challenges”