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The Group’s sales increased by 12% YoY in monetary terms mainly due to a strong performance in St. Petersburg where sales up 27% YoY
FY 2020 Highlights:
Key events during and after the reporting period:
Andrey Molchanov, CEO of PJSC LSR Group, commented:
“We delivered strong operating results for 2020, which were in line with our plans. Our sales increased by 12% in monetary terms, thanks to our unique product offering as well as a state-backed mortgage rate subsidy programme.
I am particularly pleased with the results in St. Petersburg, where sales were up 12% in square meters and 27% in monetary terms compared to the previous year. Our projects Tsvetnoy Gorod and Civilization demonstrated notable sales growth year-on-year in both the third and the fourth quarters, continuing to enjoy a high demand from customers.
Our further focus on profitability in the Moscow business-unit helped us to achieve solid sales in monetary terms despite a planned decline in square meter sales. In particular, we are pleased with the sales of our flagship project ZILART, where we recently launched two new buildings of premium segment and which was justly recognized as the best residential complex in Russia last year.
Overall, the results achieved and our leading position in the market allow us to look with confidence at the business prospects in 2021".
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