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Moscow City Telephone

November 1, 2002

The Public Joint Stock Company Moscow City Telephone Network (MGTS) has summed up the results of its nine months' financial and economic activity in 2002

The balance amount of the Company increased, as compared with the same period of the year 2001, by One Billion and Three Hundred Million (1.3 billion) rubles owing to putting into operation its new production facilities. Notwithstanding the large-scale investment program, PJSC MGTS did not lose its regular income growth rate: the revenues from the sale of goods, products, works, and services made up Seven Billion and Four Hundred Eighty-Two Million (7.482 billion) rubles (as against 5.646 Billion rubles for the same period of the year 2001). The cost of the goods, products, works, and services sold increased insignificantly - up to Four Billion and Five Hundred Seventeen Million (4.517 billion) rubles (this indicator constituted 3.779 billion rubles for the nine-month activity in 2001).

Thus, the PJSC MGTS leadership considers the sizeable increase of the Company's revenues alongside with its curbing the costs growth rate to be one of the major successes of the Public Joint Stock Company Moscow City Telephone Network, which resulted in the growth of its net profit that made up Nine Hundred Eighty-Six Million and Seven Hundred Fifteen Thousand (986.715 Million) rubles by the end of the reporting period of 2002 as against One Hundred Two Million and Six Hundred Four Thousand (102.604 Million) rubles for the same period of the year 2001.

 

 

 

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