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Kazakhstan's Kcell Posts Rise in Profits and Revenues

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Kazakhstan's Kcell has announced its first quarter financial results, and reported that its revenues rose by 4 percent to reach KZT 43 billion (USD279 million), while net income also rose, by 2.5 percent to KZT 13.7 billion (USD8.9 million).

During the quarter the subscriber base increased by 310,000 to 13.8 million.

Veysel Aral, CEO said: "During the first quarter of 2013 we continued to deliver superior profitability despite the challenges we faced. The EBITDA margin remained above 55 percent for the quarter due to our continuous focus on cost efficiency."

"Overall, we continue to retain our strong leadership in the Kazakh mobile telecom market." he added.

The company was listed on the London stock exchange last year. Sweden's TeliaSonera retains a 62% stake in the company.

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Tags: kcell  Kazakhstan