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KCell Earnings Down 0.7%

By The Moscow Times

Kazakhstan's largest mobile phone operator, KCell, said Wednesday that its net profit decreased by 0.7 percent year on year in the first half of 2013 to 29.2 billion tenge ($191 million).

Revenue rose by 4.1 percent to 89.3 billion tenge, boosted by growth in data services, KCell quoted its CEO Ali Agan as saying.

It was not immediately clear why net profit decreased in the first half of this year.

KCell, controlled by Swedish-based TeliaSonera, said its earnings before interest, tax, depreciation and amortization (EBITDA), excluding non-recurring items, rose 1.5 percent in the first half of 2013 to 42.9 billion tenge.

The company, which raised $525 million when it went public on the London Stock Exchange in December, raised its subscriber base to 14.1 million in January-June, Agan said.

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