MTS posts a 34% rise in revenues in Q2′08 (Russia)Mobile Telesystems (MTS) has announced a rise in earnings and revenues in Q2′08, based on significant growth in subscriber base and improved margins during the period.
MTS’s net income rose to $659 million during Q2′08, reflecting a 30% rise from last year.
The revenue rose 34% over last year to $2.64 billion. The company added 2 million new subscribers, of which 81.7 thousand subscribers were added from Belarus operations.
Commenting on the results, Mikhail Shamolin, president and chief executive officer said, “We see positive dynamics in usage growth and subscriber additions in our markets, while we were able to improve margins significantly in the period. We are optimistic looking forward as our markets offer significant opportunities for continued growth”.
