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Comstar-UTS posts net loss for 2009
RBC, 18.03.2010, Moscow 11:29:29.The net loss of Comstar - United TeleSystems (Comstar-UTS) under U.S. GAAP amounted to RUB 6.518bn (approx. USD 223m) in 2009 compared to a net profit of RUB 4.5bn (approx. USD 154m) in the previous year, the Russian telecommunications company indicated in a statement today. The company noted that it reflected the preparation for the deal with Svyazinvest in its statement. Revenue increased 15 percent to RUB 46.925bn (approx. USD 1.61bn). OIBDA inched up 9 percent to RUB 18.719bn (approx. USD 641m), while OIBDA margin amounted to 39.9 percent against 41.8 percent a year earlier. Comstar's operating profit rose 4 percent to RUB 12.74bn (approx. USD 436m). Comstar also provided data on its financial performance in U.S. dollars. The company's net loss amounted to USD 224.5bn in 2009 against the net profit of USD 179.6m in 2008. Revenue shrank 10 percent to USD 1.485bn. Operating profit dropped 18 percent to USD 403.5m).
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