Sistema-Hals posts Net Income of $8.6 million for 1H 2008
Russian property developer Sistema-Hals has posted a Net Income of $8.6 million for 1H 2008 under U.S. GAAP.
The figure is a marked turnaround from the loss of $99 million over the same period 2007. OIBDA for the half came in at $27.8 million, compared to a negative $85 million result for 1H 2007, on the back of Revenues of $227.1 million, up from $129.7 million in 1H 2007.
Sistema-Hals noted the more than 100% increase in revenues from its real estate development operations and says the strong growth reflects a focus on rebalancing its portfolio to incorporate more large scale and premium projects.
You can share this story on social media:
Follow RT on
Dear readers! Thank you for your vibrant engagement with our content and for sharing your points of view. Please note that we have switched to a new commenting system. To leave comments, you will need to register. We are working on some adjustments so if you have questions or suggestions feel free to send them to feedback@rttv.ru. Please check our commenting policy
