Armentel’s net operating income rises 8.5% in Q3 2008

YEREVAN, November 26. /ARKA/. Net operating income of ArmenTel Telecommunications Company (under the Beeline brand) rose 8.5 percent to $68.8mln in the third quarter (Q3) of 2008, the company’s’ press service reports.

ArmenTel’s Q3 income from mobile communication services totaled $34.5mln, with the fixed-line communication income amounting to $37.2mln. The Average Revenue per User (ARPU) reached $13.9 in the reporting period.

“We are confident about our operations in Armenia and our mobile communication services have shown a 19.3 percent a quarterly growth, with OIBDA margin being 48.7 percent,” ArmenTel’s absolute shareholder VimpelCom says in its quarterly report.

The company’s capital expenditures totaled $19.1mln in Q3 2008. VimpelCom’s third-quarter net operation income rose 45.3 percent year-on-year to $2,843mln.
The company increased its mobile subscribers by 7.1mln to 57.8mln in Q3 2008, with OIBDA (operating income before depreciation and amortization) rising 36 percent to $1,388mln.

Russia’s VimpelCom Company became ArmenTel’s absolute shareholder in April 2007. ArmenTel currently has around 650,000 fixed-line communication users and over 784,000 mobile subscribers.  –0--

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01:50 11/27/2008