OREANDA-NEWS. On 11 April 2008 CenterTelecom OJSC presented its audited financial results for 2007 in accordance with Russian Accounting Standards (RAS).

Indicators of Business Efficiency
The number of telecommunication lines per employee rose by 18.92%  to 132 lines (111 in 2006).
Production cost per ruble of revenues decreased 0.99% reaching RUR 0.7396 (RUR 0.747 for 2006);
Personnel numbers were reduced by 17.19% and reached 46,637 employees (56,317 in 2006).
Profitability calculated from sales profit reached 26.04% (25.31% in 2006).
Profitability calculated from net profit reached 11.22% (7.21% in 2006).

The number of broadband Internet access clients (under the DOMOLINK brand) rose by more than 160% in 2007 and reached 300,000 users. The income share from Internet access services rose to 7.68% (5.47% in 2006).
 
In 2007 the growth of income from inter-zone communications by 52.18% to RUR 5,912 mln (RUR 3,885 mln in 2006) was mainly provided by the implementation of the "calling party pays" rule.
 
In commenting on the results of the company’s financial activity for 2007 as measured under the RAS, Vaagn Martirosyan, CenterTelecom’s General Director, said that the company’s management assesses the company’s operating results as positive. He pointed out: “In 2007 we managed to maintain the high rate of the company’s development owing to a balanced policy of control over expenditures, considerable growth of the subscriber base for new services, and modernization of the management system. However we think that we have only formed a base for further restructuring of the company in general which, assuming the successful implementation of our business development strategy, will allow the company to find its place among the leading international telecommunications companies within the next three-four years.”