MOSCOW, June 9 Russian consumer credit company
TCS said on Monday first-quarter net profit fell 64
percent, year-on-year, driven by a slowdown in the Russian
TCS, owner of Tinkoff Credit Systems, which went public in
London in October, said first-quarter net profit fell to 362.3
million roubles ($10.54 million) from 1 billion roubles a year
earlier, missing analysts' forecasts.
TCS, founded and majority owned by Russian entrepreneur Oleg
Tinkov, focuses on Russia's regions, where it delivers credit
cards by courier.
A Reuters survey of seven analysts had forecast that
first-quarter net profit at TCS would be 969.7 million roubles
($1 = 34.3875 Russian Roubles)
(Reporting by Alexander Winning, editing by Elizabeth Piper)