Sistema JSFC (“Sistema”, the “Group” or the “Company”) has announced its unaudited consolidated US GAAP financial results for the second quarter ended June 30, 2012.
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The Group’s consolidated results for the second quarter of 2012 were impacted by a 10.8% year-on-year rouble depreciation against the US dollar. Non-cash one-off loss (“one-off”) of US$ 1,079.0 million was also recognised relating to impairments and provisions with regard to MTS’ operations in Uzbekistan.
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Mikhail Shamolin, President & CEO, Sistema, said, “We are pleased to report second quarter results reflecting a solid operational performance in our key investments. Despite the effects of rouble depreciation and one-off write down in MTS, we are seeing consistent and sustainable growth in our portfolio companies."
