Russia's MTS posts $681.8 million Q2 net loss August 28, 2012 - 16:50 AMT PanARMENIAN.Net - Russia's biggest mobile phone operator MTS posted a $681.8 million second-quarter net loss to US GAAP, after writing-off $1.1 billion due to the suspension of its subsidiary's license in Uzbekistan, the company said on Tuesday, Aug 28. New York-listed MTS, controlled by Vladimir Yevtushenkov’s AFK Sistema conglomerate, had its Uzbekistan subsidiary's license suspended in July, which a local court revoked permanently on August 13. The company says it is fighting to save the Uzbek business. Excluding that write-off, MTS said it made a net profit of $357 million, up from a $367 million loss in the second quarter of 2011. Revenues for the second quarter were down 0.2 percent to $3.12 billion against a $3.08 billion forecast, reflecting the negative impact of ruble depreciation, MTS said. OIBDA rose 5.4 percent to $1.37 billion, with a 44 percent margin, lower than analysts' average estimates of $1.32 billion and 42.8 percent respectively, RIA Novosti reported.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
