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Mobile TeleSystems OAO confirms FY 2014 guidance-Reuters


Tuesday, 27 May 2014 03:33am EDT 

Mobile TeleSystems OAO:Confirms full-year 2014 targets as first-quarter revenues and core profit grew ahead of the guided range but does not rule out a revision later because of economic volatility and currency depreciation in Russia and Ukraine, its key markets-Reuters.MTS reported a net profit of 13 billion Russian rubles ($380 million) for the first three months of 2014 compared with 12.96 billion a year ago, while analysts had on average expected a profit of 13.5 billion rubles.Revenues rose 5.1 percent to 97.6 billion rubles, above the average forecast of 97 billion in a Reuters poll and just ahead of the company's 3-5 percent target.Its Russian mobile revenues rose 7.2 percent, year-on-year, helped by growing data traffic while in Ukraine its revenues edged up 1.4 percent, MTS said in a statement.MTS also said its operating income before depreciation and amortization (OIBDA) grew 5.3 percent to 41.5 billion rubles, above the 41.2 billion poll figure and the company's guidance for 2 percent growth in 2014 as a whole.The company's chief executive Andrei Dubovskov told Reuters that he did not see any serious risk to MTS's business from Russia's economic slowdown or from Western sanctions imposed on Moscow over the Ukraine crisis. 

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