MGTS sees 19% jump in profits (Russia)Moscow City Telephone Network (MGTS) has reported a 19.3% year-on-year increase in net profits to RUB3.37 billion (USD132 million) for the first six months of this year. First half revenues were up 22.4% to RUB13.04 billion, while pre-tax profit was up 18% at RUB6.1 billion under Russian accounting standards. Part of the Comstar-UTS group, MGTS is the incumbent fixed line operator in the Moscow metropolitan area and the largest provider of local telecoms services in the region.
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