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Russia's Megafon Q4 net income falls 46 pct, below fcast

Reuters - UK Focus

MOSCOW, March 5 (Reuters) - Russia's second-biggest mobile phone operator Megafon (MCX: MFON.ME - news) said on Wednesday its fourth-quarter net profit fell 46 percent from a year ago, missing analyst forecasts.

The company, controlled by Russia's richest man Alisher Usmanov, reported a net profit of 10.1 billion roubles ($280 million), down from 18.6 billion roubles in the same period of 2012 and below a 12 billion rouble average forecast in a Reuters poll.

Megafon also said in a statement its revenues rose 11 percent to 79.7 billion roubles and an operating income before depreciation and amortisation (OIBDA) fell 2.9 percent to 30.5 billion roubles, while analysts forecast 78.7 billion and 31 billion roubles respectively.

It expects 2014 revenue growth of 6-8 percent with an OIBDA margin remaining at at least 44 percent. It also expects capital expenditures for this year to be around 58-64 billion roubles.