Ukrtelecom (UTEL: HOLD) Announces 1Q05 Results

In 1Q05 Ukrtelecom posted net revenues of USD 360 mn (+8.3% yoy) and net income USD 31.8 mn (+0.8% yoy).Concorde Capital: The results are not surprising and are in line with telecommunication sector trends. The company expects its profitability to grow in June and July 2005, when local fixed-line tariffs are projected to grow by at least 20%. This is expected to increase the company?s total income from telecommunications services provision by 2.8% in 2005.