OJSC North-West Telecom has summed up the results of Company’s performance for the 9 months of 2004 without taking into account the branches Lensvyaz and Svyaz of the Republic of Komi
According to the results of financial and economic performance of OJSC North-West Telecom the proceeds from sales for the 9 months of 2004 have amounted to RUR 10 273 950 ths., which is 16.4 % more than for the same period of the previous year. The proceeds from the sales of services have amounted to RUR 9 885 205 ths., which is 15.5% higher than the index of the same period of 2003. The income has grown mainly due to the growth of the local communication rates.
The prime cost of the sold services amounted to RUR 7 862 900 ths., including RUR 7 699 320 ths. for communication services.
The EBITDA for the 9 months of 2004 has amounted to RUR 2 695 566 ths., which is 12.2% higher than in 2003.
The net profit of OJSC North-West Telecom for the 9 months of 2004 has amounted to RUR 1 059 023 ths., which is RUR 343 ths. less than for the same period of the previous year. A certain reduction of the net profit volume is connected with changes in the accounting policy of the Company in respect of forming the wages fund reserves (holiday pays, bonuses, etc.). In 2003 such reserves were formed in the 4th quarter at a time. In 2004 a decision on quarterly reserves charging has been taken.
The Balance Sheet and the Profit and Loss Report will be published on the Company’s site in the section "Economic & Finance".
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