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Andrey Molchanov, CEO and Chairman of the Executive Committee of LSR Group comments:
"The first half of 2016 brought many positive changes for us. The real estate market demonstrated recovery on the back of bottoming out economic environment and mortgage subsidy program. We have successfully expanded our presence in Moscow and saw increasing demand in our projects in the capital. We have strengthened our reputation as a reliable homebuilder of mass-market and elite projects in the home region. We have implemented a number of important organizational and structural changes, including the approval of the new financial strategy, which are focused on delivering sustainable predictable growth over the long term. We are open to change, and are committed to maximizing shareholder value."
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