Uralsvyazinform: net profit decline in 1H09

Regional telco Uralsvyazinform has announced a 2% drop in net profit for the six months ended 30 June 2009, down from RUB1.69 billion (USD55.2 million) in the first half of 2008 to RUB1.66 billion a year later. The company attributed the decline to higher financial expenses and foreign exchange losses; financial costs rose 21% year-on-year to RUB1.77 billion, while foreign exchange losses amounted to RUB188 million compared with a RUB34 million loss a year earlier. Revenues rose marginally year-on-year from RUB20.02 billion to RUB20.1 billion at the end of June 2009 while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 8.2% to RUB7.9 billion.