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Moscow City Telephone

March 27, 2002

Open Joint-Stock Company "Moscow City Telephone Network" (OJSC MGTS) reports preliminary results of its business activity for 2001

The Company's volume of sales increased by 30% as compared with the 2000 respective indicators, and constituted 7.9 billion rubles.

The pre-tax profit, interest and depreciation characterizing the net cash flow from current operational activity is estimated at 3.2 billion rubles, as against 2.8 billion rubles in the year 2000.

The net profit as per the work results for 2001 was 366 million rubles.

The debt structure was improved: the share of the long-term liabilities in the accounts payable, credits and loans inclusive, made up 68% as compared with 15% in 2000 respectively, thereby scoring a significant growth of the current liquidity indicator.

 

 

 

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