The largest retail supplier of cellular telephones in Russia company Euroset reported that its revenues in quarter 2, 2010 reflected a 15.7-percent growth on a year-on-year basis. In the three months from April to June 2010, the company’s revenues stood at RUR 13.564 billion. The EBITDA margin was 11.9 percent, up from 2009 results, when the EBITDA margin was 3.5 percent.

According to the president of the company Alexander Malis, Euroset had a net profit in the second quarter of the current year.

The Euroset group is the largest retail seller of cell phones, digital cameras, and other mobile electronics. The company was originally founded by Mr. Yevgeny Chichvarkin and Mr. Timur Artemyev. The company was sold in 2008 to Alexander Mamut. Mr. Mamut in turn sold a 49.9-percent stake in the company to VimpelCom. VimpelCom also acquired the option to buy another 25 percent of the company in 2011.