Comstar-UTS turns in strong second quarter results

Russian service provider Comstar-UTS reported consolidated revenues of US$363.6m (€255m) for the quarter, which it said represented an increase of 19% year-on-year in rouble terms. Operating income before depreciation and amortisation was US$149.3m, up 28% in rouble terms. OIBDA margin was 41.1%, while operating cash flow was US$102.2m, up 12% year-on-year but down 4% quarter-on-quarter in rouble terms.

Comstar-UTS doubled its net profit in rouble terms in the second quarter of this year to US$30m. However, first-half net profit was US$42.6m, down 28% year-on-year in rouble terms. First half revenues were US$698m, up 15%.

Comstar said it had added 11,000 broadband subscribers in Moscow between June 30 and August 16.