VimpelCom Ltd. (VIP) reported fourth-quarter profit attributable to owners of the parent of $801 million, compared to a loss of $381 million prior year. Profit per share attributable to ordinary equity holders of the parent was $0.49 compared to a loss of $0.24 last year.
Profit before tax was $764 million, compared to a loss of $559 million last year. The company said the rise was primarily the result of a substantially higher EBIT and a Euroset fair value adjustment of US$606 million, due to IFRS requirements, as a result of the acquisition of the additional 0.1%.
Total operating revenues increased to $5.95 billion from $5.89 billion last year. The year-over-year revenue growth of 1% was impacted by unfavorable currency movements. Organic revenue growth was 3%, with solid performance across most Business Units.
Analysts polled by Thomson Reuters expected the company to report profit per share of $0.26 for the quarter. Analysts' estimates typically exclude speical items. Analysts expected revenue of $5.84 billion for the quarter.
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