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Tuesday, March 29, 2011

Vimpelcom Q4 earnings up 63 pct, beats f'cast, (NYSE: VIP), (ORTE)

Vimpelcom (VIP.N) beat earnings forecasts on Tuesday with a 63 percent jump in fourth-quarter net profit and said its efforts to restore Russian market share had begun to bear fruit. The company this month approved a deal for control of Orascom Telecom (ORTE.CA) and Italy's Wind to diversify into new markets and take on huge debt. [ID:nLDE72G0QR] Consolidated net profit rose to $461.2 million against $283.4 million in the final quarter of 2009, Vimpelcom said in a statement, above the $483.6 million average analyst forecast in a Reuters poll. [ID:nLDE72R0YC]

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