OREANDA-NEWS. OJSC CenterTelecom, major provider of fixed-line telecommunications services in the Central Federal District of Russia, today announced its unaudited financial results for the first nine months of 2006 in accordance with Russian Accounting Standards (RAS).

The Company’s revenue for the first nine months of 2006 increased by 2.4% to RUR 20,479.6 million versus RUR 20,006.6 million a year ago. 

The 3.9% decrease in operating expenses – from RUR 15,499.6 million to RUR 14,894.8 million for the first nine months of 2005 - is attributable to the introduction of a new system of interaction between operators as of 1 January 2006 as well as to the revision of terms and conditions of certain agreements with third parties on provision of services to CenterTelecom. 
 
Growth in 9 months of 2006 net profit to RUR 1,923.8 million from 548.1 million a year ago is due to the increase in operating profit as well as recovery of bad debt provision resulting from the repayment of certain receivables from socially important customers by the Ministry of Finance.