North-West Telecom declared the audited performance results for 2003 according to RAS.  

By the results of 2003, the OJSC North-West Telecom sales proceeds were RUR 12.3 billion, which exceeded the 2002 sale proceeds by 22.2%.

The proceeds from communication services sales increased by 22.3% during the year to reach RUR 12.0 billion.

The sale proceeds growth is attributable to raised regulated tariffs for traditional communication services, an increase in the number of the Company’s subscribers, and advancing growth of proceeds from additional communication services (Internet, data transmission, etc.), where the charge rates are not regulated by governmental authorities.

The prime cost of the communication services sold was RUR 9.3 billion.

The net profit of OJSC North-West Telecom by the results of 2003 increased more than 2.5 times to RUR 837.5 million.

The Company’s investments increased by 73% in 2003 to reach RUR 3.0 billion.