MTS Posts 14.5% Annual Subscriber Growth

May 2008 | Company Finance Alert

Mobile TeleSystems (MTS), Russia's largest mobile network operator in terms of subscriber numbers, has posted its financial and operating results for the quarter ended March 31 2008. The number of consolidated mobile subscribers served by the company and its subsidiaries grew by 3.6% during the quarter and by an impressive 14.5% year-on-year. Meanwhile, revenues rise by 2% q-o-q and by 37% y-o-y to US$2.38bn and net income rose by 33% q-o-q and by 36% y-o-y to US$610mn.

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