PIK Group posts 34% increase in Net Profit 1H 2008
Published: 30 September, 2008, 08:46
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.
30.09.2008, 08:15
World markets hold breath after bailout rejectionStocks are tumbling following the U.S House of Representatives rejection of the $US 700 billion emergency rescue package. The vote, 228 against and 205 for, came after the world's major stock markets all slumped on Monday as investors worldwide mulled bot |
30.09.2008, 09:12
Novorossiysk Commercial Sea Port posts 1H 2008 Net profit of $84.5 millionNovorossiysk Commercial Sea Port has reported a Net Profit of $84.5 million under IFRS for 1H 2008 |
