Boost for Sistema and Stream-TV

Russia’s Sistema has posted Q1 2007 revenues of $2,067.1 million (€1,514.0 million) for its telecom business, an increase of 35% on the corresponding period last year. At the same time, its operating and net incomes amounted to $743.1 million (+84%) and $227.3 million (+77%) respectively. The business encompasses Comstar UTS and country’s leading mobile company MTS. Within the media sector, Q1 2007 revenues were, at $26.9 million, 36% up year-on-year. The net loss was meanwhile reduced from $1.7 million to $0.2 million. One encouraging development was the performance of the Stream-TV operation, which saw its revenues rise from $12.1 million in Q1 2006 to $19.2 million in Q1 this year. Its subscriber total at the end of March stood at 1.66 million, of who 1.56 million were pay-TV, 86,00 Internet and 9,700 telephony customers.