OREANDA-NEWS. “COMSTAR – United TeleSystems” OJSC (“Comstar” or “the Group”) (LSE: CMST), the leading combined telecommunications operator in Russia and the CIS, today announced its unaudited consolidated US GAAP financial results for the three months ended March 31, 2007.

Revenues of the Group was up 32% year on year to US$ 328.9 million. 39% year on year growth was fixed in Moscow broadband Internet subscriber base to 398,000 customers.
 
OIBDA increased by 27% year on year to US$ 130.4 million with margin of 39.6% (up quarter on quarter from underlying 33.3% margin in the fourth quarter of 2006).

Operating profit of the company increased by 23% year on year to US$ 92.8 million with margin of 28%. Growth of the net income made 12% year on year to US$ 43.7 million.
 
Cash flow from operations up year on year to US$ 89.1 million.