Rambler Media, the British-registered owner of Russia`s Rambler Internet portal, said on Tuesday its first half net profit was $6.7 million compared with a net loss of $0.5 million a year ago.

Rambler said it had restated financial results for the first half of 2006 to exclude the television operation and include part of the provision for potential tax related charges of $2.6 million reported in 2006.

The group had previously reported net profit of $2.5 million for the first half of last year.

Group`s revenues amounted to $20.5 million in the first half of this year, an increase of 58 percent from a year ago.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) were $0.6 million compared with a restated $0.8 million a year ago.
sections: Economics