Kazakhtelecom H1 net falls 16.6 pct

ALMATY Tue Aug 4, 2009 1:03pm IST

ALMATY Aug 4 (Reuters) - Kazakhstan's state-controlled fixed line operator Kazakhtelecom KZTK.KZ KZTKya.BE said on Tuesday its net income fell 16.6 percent year-on-year in the first half of 2009 to 15.1 billion tenge ($100 million).

The company provided no reason for the decline.

Kazakhstan is expected to report an economic contraction in the first half of 2009 due to the decrease in prices for its key exports, oil and metals, and problems in the highly-leveraged banking sector. (Writing by Olzhas Auyezov; Editing by Hans Peters)