LSR Group reports record sales in St. Petersburg
14 January 2014
LSR Group (LSE: LSRG; MICEX-RTS: LSRG) reports record real estate sales in St. Petersburg in 2013 - 529 th sq m, nearly twice as much as in 2012.In 2013, in the mass market real estate segment in St. Petersburg we signed new contracts for the sale of 452 th sq m of net sellable area, up 117% year-on-year. That is an all-time record for the company’s real estate development business in St. Petersburg. In the business class and elite segment 76 sq m was sold, up 19% year-on-year.
In 2013, new project launches in St. Petersburg amounted to 555 th sq m, up 55% year-on-year. In 2014, LSR Group is planning to launch to the market projects with total area of 700 th sq m (+26% year-on-year).
Notes to Editors:
OJSC LSR Group is a diversified construction company operating in a number of complementary market segments. The company was founded in 1993. Its core business areas are production of building materials, panel construction and real estate development. The company unites business units for extraction and processing of aggregates, production and transportation of building materials, construction upon projects of leading Russian and foreign architects – from mass-market to elite residential properties. LSR Group's main operations are located in St. Petersburg, Leningrad region, Moscow, Moscow region, Yekaterinburg and Ural region. As of 31 December 2012 (according to Cushman & Wakefield Russia), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 8.7m m2 with the market value of RUB 120bn. In 2012, the sales revenue of LSR Group amounted to RUB 61,122m (IFRS) LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MICEX-RTS.
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