OREANDA-NEWS. On June 21, 2007 OJSC CenterTelecom (RTS: ESMO, ESMOP; MICEX: CTLK, CTLKP; U.S. OTC: CRMUY), the leading provider of fixed-line telecommunications services in the Central Federal District of Russia, has issued its audited results of financial and economic activities for 2006 compiled in accordance with International Financial Reporting Standards (IFRS), reported the press-centre of  OJSC "CenterTelecom".

Alexander Lutsky, CenterTelecom CFO, said that the company’s financial results reflect the management team’s efforts aimed at strengthening the company’s competitiveness and improvement of CenterTelecom’s financial performance. He added: “CenterTelecom’s revenues increased 2,83% and expenditures were reduced by 7,91%. EBITDA margin rose to 36,5%.

Moreover we succeeded not only in increasing the share of revenues from non-regulated communications services in the company’s revenue structure but also in optimizing CenterTelecom’s expenditures. This formed a basis for considerable growth of net profit which reached RUR1 836 million (in comparison with a RUR1 435 million net loss in 2005). Last year’s results formed the basis for successful development of the company.”

The full version of CenterTelecom’s consolidated financial statements for 2006 according to IFRS is available on the Company’s corporate website:
http://www.centertelecom.ru/eng/investor/finratings/mfco/year/

The company’s financial results are audited by the independent auditing firm Ernst & Young LLC.