Azercell Received Nearly 130 Million Manat of Net Profit Last Year

The total revenues for local mobile operator LLC Azercell Telecom amounted to 433,290,000 manat (minus 5.5%), and the expenses were 274 831 000 manat (minus 10.3%).

According to the consolidated statement of the financial position of the company last year, the net profit stood at 128.56 million manat. At the same time the operating profit by 1 January amounted to 158.45 million manat. The income tax expense amounted to 32,590,000 manat (minus 3.6%).

The assets of Azercell have grown to 716,762,000 manat (+ 21.7%). This was done mainly at the expense of almost tripling the current assets - up to 224,595,000 manat, while the non-current assets declined slightly to 492.17 million manat.

Symbolically (0.7%) decreased the liabilities - to 74.2 million AZN, but the equity grew by 25% - up to 642.56 million manat.

The authorized capital of the company was unchanged at 42,080,000 manat.

LLC Azercell Telecom (a subsidiary of the Swedish-Finnish group TeliaSonera) was established in 1996. It is the largest mobile service provider with a share of 53% in the local market and covers 99.8% of the republic's territory.

The total number of its subscribers is 4.5 million. --17D-