Turkcell's contribution to TeliaSonera rises 66 pct

Turkcell's contribution to TeliaSonera rises 66 pct

Turkey's Turkcell's contribution to TeliaSonera's profit in the second-quarter of the year rose nearly 66 percent while the company's profit growth is 7.8 percent, the Nordic company said in a statement on Thursday.

TeliaSonera AB, Sweden's largest telephone company, said second-quarter profit gained 7.8 percent as growth in Turkey and Russia helped to make up the demand.

Turkcell's contribution jumped to 1.03 billion kronor ($170.4 million) from 602 million kronor ($99.6 billion), while earnings from Russia increased 14 percent to 1.34 billion kronor ($221.7), according to the statement.

Sales from the region TeliaSonera calls Eurasia gained 17 percent to 2.86 billion kronor ($473.3 billion), and growth in affiliates in Turkey and Russia also fueled earnings, the statement also said.

TeliaSonera operates in Turkey as associate company with Turkcell the same with his relation with OAO MegaFon in Russia. Company also has operations in emerging Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia and Moldova markets.

Company's net income rose to 4.13 billion kronor ($685 million), or 0.92 krona a share, from 3.83 billion kronor ($633.8 billion), or 0.85 krona and the sales climbed 5.7 percent to 25.27 billion kronor ($4.182 billion), compared to the same period of 2007, TeliaSonera said.

TeliaSonera expects the net income in 2008 to be higher than it was in 2007. The company also aims to show "stable growth" in sales, and to maintain the margin achieved in 2007 at the earnings before interest, taxes, depreciation and amortization level.

"The overall market trends were essentially unchanged and we reported a satisfactory set of numbers for the second quarter," company's CEO Lars Nyberg said in the statement. "For the first time in more than a year, we managed to increase our margins."