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Ukrtelecom profits fall

October 29, 2013 08.19 Europe/London By Chris Dziadul

UkrtelecomThe Ukrainian incumbent Ukrtelecom has posted revenues of UAH4.936 billion (€432.4 million) for the first nine months of this year.

This was slightly down from the UAH5.099 billion in the same period in 2012 and due to the continuing trend of lower income from fixed line telephony services.

Ukrtelecom says its main focus remains the provision of internet and data services, with revenues from these amounting to UAH983 million in the first nine months of this year, or UAH41 million more than a year earlier.

It adds that its net profit in the first nine months of this year was UAH113 million, with Q3 contributing UAH86 million to the total.

Significantly, under IFRS this is reported by Interfax to be only a third of the figure posted for the same period in 2012.

EBITDA was meanwhile UAH1.045 billion, with Q3 contributing UAH404 million.

Ukrtelecom was acquired by the SCM Group earlier this month for a fee believed to be in the region of €1 billion.

The deal was first announced in June.

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Filed Under: Central & East Europe, Newsline Tagged With: Ukraine, Ukrtelecom Edited: 29 October 2013 08:19

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About Chris Dziadul

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