Russia's Stream reports rise in Q1 revenue

Net profits up 29.2%, to $2.8 mil

MOSCOW -- Stream, a Russian cable TV operator and Internet provider, reported a 50% increase in revenue in the first quarter of 2008, year-over-year, to $28.3 million.

Net profits were up 29.2% during the same period, to $2.8 million.

The company's cable TV subscriber base at the end of the quarter was 1.8 million. Stream said it is planning to operate more actively in the country's regions, increasing its coverage territory by 20%-25% by the end of the year.