Sviazinvest earns 14 billion roubles in Q1, 2000

Sviazinvest has announced preliminary results of its work in Q1, 2000. According to the company’s general director Valery Yashin, Sviazinvest revenue totaled 14.2 billion roubles (about $500 million), a 47 percent increase compared with Q1, 1999. Net income reached 1.717 billion roubles (about $60 million) compared with a loss of 23 million roubles in Q1, 1999. The holding reports that last quarter it invested over 2.3 billion roubles in the development of its telecommunications infrastructure – 66.7 percent in local telephone networks, 21.8 percent – in long distance and international networks, 9.2 percent – in construction, and 2.3 percent – in new technologies. Mr. Yashin says that 74.2 of those investments were provided by Sviazinvest subsidiaries, 12.2 percent were attracted in the form of loans, and 13.6 percent were made by outside investors.
Sviazinvest: (+7 095) 229-41-14 www.svyazinvest.ru

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