OREANDA-NEWS  On 24 September was announced, that - OJSC VolgaTelecom [(RTS: NNSI, NNSIP; MICEX: VTEL, VTELP; ADR OTC USA: VLGAY; ADR FSE: NZHGy.F; ADR BerSE: NZHGy.Be; ADR Xetra: NZHGy.De; ADR SSE: NZHGy.SG)] hereby releases its 1H 2008 unaudited financial results according to International Financial Reporting Standards (IFRS).

The consolidated interim financial statements were prepared under the Company’s 2008 unified accounting policy which is the previous year accounting policy adjusted in accordance with requirements of new/revised standards/interpretations.

As per 1H 2008 unaudited statements:

The Company’ s consolidated revenue was RUR 15,764 million, a 9.1 % gain over the same period of  2007;

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.3 % to RUR 6,237 million;

Net profit amounted to RUR 1,721 million, a 1.1 % y-o-y rise;

EBITDA margin was 39.6 % (vs. 38.1% in H107).

Detailed information are available here.