SMARTS posts first quarter profit

14 May 2007

Russian regional mobile operator SMARTS has posted a first-quarter net profit of RUB1.68 million (USD65,000), reversing a loss of RUB125 million (USD4.8 million) in the first three months of last year. Revenues for the quarter were up 25.6% year-on-year at RUB755.2 million, while gross profit increased 54% to RUB251 million. SMARTS group operates in the Volga region and had 3.75 million subscribers at the end of March.

Russia, SMARTS Group,

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