Ukrtelecom Ends Q3 With Losses Of UAH 110.6 Million

moneyUkrtelecom, the largest telecommunications company in Ukraine, ended the period of July-September with losses of UAH 110.628 million.

The company announced this in a statement, a text of which Ukrainian News has obtained.

The company’s net revenues decreased by UAH 1.394 million or 0.1% to UAH 1,671.558 million in the third quarter, compared with the corresponding period of 2009.

Ukrtelecom ended the period of January-September with losses of UAH 62.655 million, having increased net revenues by UAH 106.968 million or 2.2% to UAH 5,074.021 million compared with the corresponding period of 2009.

As Ukrainian News earlier reported, Ukrtelecom ended the first half year with a net profit of UAH 47.973 million, having increased its net revenues by UAH 108.362 million or 3.3% to UAH 3,402.463 million, compared with the corresponding period of 2009.

The company ended 2009 at a loss of UAH 456.4 million. Its net revenues during this period increased by UAH 225.202 million or 3.39% to UAH 6,870.931 million, compared with 2008.

Ukrtelecom has a 78.5% share of the fixed-line telephone market in Ukraine and provides services to 9.9 million subscribers.

According to “TOP 100. Ukrainian Business Leaders”, Ukrtelecom was among the three leaders in the industry branch of Communications and Telecommunications in terms of the most profitable companies of Ukraine (UAH 6.65 billion of net profit) in 2008.

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