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AFK Sistema [RTS: AFKS], one of Russia's largest diversified companies,
AFK Sistema [RTS: AFKS], one of Russia's largest diversified companies, said on Thursday its US GAAP net income fell 47%, year-on-year, in the first quarter to $398.68 million.

Revenues in the reporting period amounted to $3.78 billion as against $2.71 billion a year earlier, AFK Sistema said.

Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the consumer services sector and has over 80 million customers. It develops and manages market-leading businesses in selected service-based industries, including telecommunications, technology, banking, real estate, retail and media.


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