Yefymenko Predicts Ukrtelecom To Make Profit in the First Half of 2010

ukrtelecom-enTransport and Communications Minister Kostiantyn Yefymenko predicts that Ukrtelecom, Ukraine’s largest telecommunications company, will make profit in the first half of 2010, he told journalists on June 18.

“The [first quarter] losses will be covered for sure, and will yield profit for the first half-year,” he said.

As to the minister, he keeps under his personal control the enterprise’s operation and its financial performance.

As Ukrainian News earlier reported, Ukrtelecom ended the January-to-March quarter at losses of UAH 36.11 million. The company’s net revenue decreased by UAH 3.432 million or 0.2% to UAH 1,675.437 million in the first quarter, compared with the corresponding period of 2009.

The company ended 2009 at a loss of UAH 456.426 million. Its net revenue during this period increased by UAH 225.202 million or 3.39% to UAH 6,870.931 million, compared with 2008.

Ukrtelecom accounts for 78.5% the fixed-line telephony market in Ukraine and provides services to 9.9 million subscribers.

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