print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  PIK Group REGISTER LOG IN

Press Releases > PIK Group  all about the company

company search
all press releases
all PIK Group press releases

PIK Group

April 17, 2012

1st quarter trading update

(LONDON, April 17 2012)- PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, is pleased to publish today a trading update for the three months ended March 31, 2012 based upon management accounts.

1Q2012 key highlights:

  • Total gross cash collections up by 55% to RUB12.5billion (1Q11: RUB 8.1 billion)

– cash collections from sale of apartments surged 89% to RUB10.0billion (1Q11: RUB5.3billion) driven mostly by sales volume and price growth.

– cash collections from construction services increased by 19% to RUB2.3billion (1Q11:RUB1.9billion)

  • New sales contracts to customers grew 58% to 128,000 square meters, driven by underlying demand for affordable housing;
  • Average selling prices for PIK’s mass market properties under construction continued to grow and reached RUB121 thousand per square meter in Moscow (+9% yoy), RUB74 thousand per square meter in Moscow region (+10.4% yoy);
  • PIK launched 9 new projects (1Q11: 8) of which 8 were in its core Moscow Metropolitan Area (MMA);
  • 1Q12 sales figures showed a 67% year-on-year increase; this good start to the year gives management confidence that PIK’s segment of the market is intact and that further growth can be expected in 2012
  • 1Q12 mortgage backed sales since 3Q11 consolidated at around 28.5% of total sales;

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer