KIEV, Feb. 20 – Ukrtelecom reported a UAH 1.526 billion net loss for 2008, while in 2007 the company saw UAH 267.2 million in net profit.

The net income of Ukrtelecom from sales goods, works and services last year dropped by 2.4%, to UAH 6.646 million, and its gross profits fell by 40.6%, to UAH 948.7 million.

Taking into account earlier published data over the nine months of 2008, in Q4 the company's net income from sales went up by 1.9% year-over-year, to UAH 1.77 billion.