Open joint stock company Moscow City Telephone Network (MGTS) has released its 1H 2002 financial results.  

-         income from sale of goods (work and services) for the reporting period stood at Rub 4.9 bn, which represents a 34.87 % increase year on year (up from Rub 3.6 bn);

-         the cost of goods (work and services) sold increased by only 18.96% - up from Rub 2.4 bn in 1H 2001 to Rub 2.9 bn in 1H 2002;

-         net profit of MGTS rose from Rub 17.3 bn in 1H 2001 to Rub 633.6 bn in 1H 2002.