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Uralsib Financial Corporation has started analyzing OJSC LSR Group, a report published by Uralsib said.
The forecast value of LSR’s Global Depository Receipts (GDRs) is USD17.14 per GDR, the recommendation is “BUY.” LSR Group holds strong positions in the fast growing markets of real estate, construction, building materials and aggregates, the experts said.
Founded in 1993, LSR Group is one of the leading real estate development, construction and building materials companies in St. Petersburg and the Leningrad region, combining two complementary market leading businesses.
The Group is one of the leaders in the development of elite residential real estate projects in St Petersburg and a significant developer of mass-market real estate there. The Group also has a market leading position in the production of building materials and aggregates in St Petersburg and the surrounding Leningrad region.
The Group is one of the largest producers of ceramic bricks in Russia and one of the largest producers of aerated concrete in Russia. In 2006 it was, and remains, the market leader in St. Petersburg and the Leningrad region in each of sand, crushed granite, bricks, reinforced concrete, ready-mix concrete and aerated concrete segments.
LSR manages and operates its businesses through two divisions:
• Real Estate Development, Commercial Real Estate and Construction, which represented approximately 35 per cent of consolidated revenues in 2006; and
• Building Materials, Aggregates and Construction Services, which represented approximately 64 per cent of consolidated revenues in 2006.
LSR Group employs nearly 15,000 people. In 2004, 2005 and 2006 the revenues of LSR Group were RUB 7,530.9 million, RUB 13,085.5 million, and RUB 21,110.8 million respectively. For the six months of 2007 the Group’s revenues amounted to RUB 16,062.0 million compared to RUB 9,336.4 million for the same period last year. In July 2007, Moody’s Investors Service assigned a B1 rating to LSR Group; outlook — stable.
In December, 2007 LSR Group has been awarded a National Business Award as the Company of the Year in ‘Construction’ category.
For more details please contact:
Press Service, LSR Group
+7 (812) 314-1044
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