OREANDA-NEWS. On 23 April 2008 CenterTelecom released its audited financial statement for 2007 drafted to Russian Accounting Standards (RAS).

 Efficiency indicators:

- Lines per employee rose 18.92% to 132 (111 in 2006);

- expenses per ruble of revenues dropped 0.99% to Rub 0.7396 (Rub 0.7470 in 2006);

- Staff was cut 17.19% to 46,637 (56,317 in 2006);

- Sales margin improved to 26.04% (25.31% in 2006);

- Net margin came in at 11.22% (7.21% in 2006).

In 2007, the company’s base of broadband Internet users (the Domolink brand) rocketed over 160%, topping 300,000, while the portion of revenues from Internet access services grew to 7.68% (5.47% in 2006).

The introduction of the Calling Party Pays principle had the most tangible impact on the company’s 2007 intrazonal earnings, up to Rub 5,912 mln (a 52.18% upsurge to Rub 3,885 mln in 2006).

Commenting on CenterTelecom’s 2007 performance, CEO Vaagn Martirosyan noted that management is positive about the company’s results for 2007. “Last year we managed to keep corporate expansion on track at a dynamic pace by pursuing a balanced cost containment policy, boosting our VAS customer base and revamping the company’s management system. Be that as it may, we believe that to date we have only formed a base for CenterTelecom’s further restructuring as a whole which, provided that the revised business expansion strategy is carried out successfully in the next 3-4 years, will allow the operator to gain a well-deserved ranking among the world’s leading telecommunications companies” – he pointed out.