icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

PIK Group posts 34% increase in Net Profit 1H 2008

PIK Group posts 34% increase in Net Profit 1H 2008
Russian property developer, PIK Group, has posted a Net profit of $93 million for 1H 2008 under IFRS.

The bottom line result was up 34% from the same period 2007, with EBITDA up 49% to $200 million, on the back of Revenues of  $859 million, up 63%.

Despite concerns about the Russian property sector in the wake of chaos on global markets, PIK Group said in its statement that it had no serious fears in the current financial crisis, and that a strong Russian economy and continued demand for housing in Russia will continue to stimulate growth in the construction sector.

Podcasts