“COMSTAR – United TeleSystems” OJSC (“Comstar” or “the Group”) (LSE: CMST) today announced its unaudited consolidated US GAAP financial results for the three and six months ended June 30, 2007.
SECOND QUARTER HIGHLIGHTS
- Revenues up 32% year on year to US$ 379.2 million
- OIBDA[1] up 51% year on year to US$ 173.2 million and OIBDA margin of 46%
- Operating profit up 54% year on year to US$ 135.7 million and operating margin of 36%
- Net income before non-cash impact of revaluation of put and call option1 of US$ 39.2 million
- Cash flow from operations up 41% year on year to US$ 112.4 million
- 42% year on year growth in Moscow broadband Internet subscriber base to 426,400 customers
- 52% of MGTS residential subscribers on unlimited tariff plan as at end of period
[1] Here and below, please see Attachment A to this statement for a full definition of OIBDA and a reconciliation of Net Income before the non-cash impact of the revaluation of the put and call option.
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