MOSCOW Nov 8 Russia's No.2 mobile phone
operator MegaFon, which plans to float shares in
London and Moscow, reported on Thursday a 20 percent
year-on-year rise in third-quarter net profit, helped by lower
costs and increased sales.
Net profit totalled 14.9 billion roubles ($472.83 million),
up 19.6 percent from 12.5 billion roubles in the same period of
2011, MegaFon said in a statement.
Revenues grew by 12.3 percent to 71.2 billion roubles, and
operating income before depreciation and amortisation rose 21.1
percent to 32.1 billion for a 45.1 percent margin, MegaFon said.
The company last month delayed a roadshow for its IPO,
expected to raise around $2 billion, in order to include
third-quarter results in the IPO prospectus.
The company is aiming for an IPO this year. However, several
sources familiar with the matter said on Wednesday it may have
to delay the sale until 2013 if it does not get the green light
from UK regulators promptly.