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Record Profit at MGTS

March 02, 2006 | Bloomberg

Moscow City Telephone Network, known as MGTS, will report record profit of more than $313 million for 2005, Vedomosti reported Wednesday, citing two people close to the company.

More than half of the record profit came from a revaluation of assets still held by the company in former subsidiaries, generating $193 million, the newspaper reported. It is unclear how this will affect dividend payouts, it said.

MGTS is controlled by Sistema.

Company: MGTS

Full company namePublic Joint Stock Company Moscow City Telephone Network (MGTS)
Country of riskRussia
Country of registrationRussia
IndustryCommunication

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