Vimpelcom net profit cut in half to $255M

|By:, SA News Editor

Vimpelcom's (VIP) Q3 net profit slumped 53% to $255M and badly missed consensus of $504M, with earnings hurt by a tax expense, and regulatory and competitive pressures.

Revenue fell 1% to $5.7B.

EBITDA -2% to $2.5B, below consensus of $2.52B.

Total mobile subscriber base +5% on year to 219M.

The Russian carrier declared an interim dividend of $0.45 a share. (PR)