Vimpelcom Q2 net profit up 83%, beats forecasts

Amsterdam-based telecoms group Vimpelcom Limited, which includes one of Russia's top three mobile network operators Vimpelcom, posted an 83% year-on-year increase in net income for the three months to 30 June 2012, beating market expectations on the back of strong subscriber growth across its operational markets. The group reported net profit of USD488 million for the three months under review, up from USD267 million in 2Q11 (on a pro forma basis) and beating analyst forecasts of net profit of USD340.30 million. Vimpelcom said revenue for the second quarter dipped 4% y-o-y to USD5.75 billion, as fluctuations in local currencies versus the US dollar impacted on its bottom line

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OVETEL Vimpelcom Q2 net profit up 83%, beats forecasts