The Russian cable operator ER-Telecom has posted net profits of R294 million (€6.67 million) for the first half of year, as opposed to a net loss of €259 million in the corresponding period in 2008.
Its revenues meanwhile amounted to R2.182 billion, up 78% on H1 2008, while EBITDA amounted to R784 million, as opposed to a negative R116 million a year earlier.
As of July 1 this year, ER-Telecom had 1.666 million subscribers, or 49% more than 12 months earlier. The number using its cable TV services stood at 890,000, up 22% year-on-year.
ER-Telecom is over 70% owned by the Perm Industrial and Financial Group and has been a triple play company since 2004.