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Business news, 16.10.2001 15:43

St. Petersburg Telephone Network Reports Rise In Profits.

Total profits of St. Petersburg Telephone Network (PTS) will increase 6 percent this year over 2000 and will reach approximately 400 million rubles (about $13.5 million). According to Igor Golikov, PTS manager for economics and finances, the total 2001 revenues will be about 3.9 billion rubles (about $132 million), which is twice as much as the figure for 2000. PTS' revenues for the first 9 months of 2001 were 2.8 billion rubles (about $95 million). The main shareholders of the company are Svyazinvest (41.02 percent), Brunswick Warburg Nominees (18.14 percent) and Bank Credit Swiss First Boston (10.5 percent), the St. Petersburg Times wrote.

News source: The St. Petersburg Times

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