OJSC LSR Group (LSRG) - Record results in real estate development
RNS Number : 6663R
OJSC LSR Group
21 November 2012
LSR Group reports record results in real estate development
LSR Group (LSE: LSRG; MICEX-RTS: LSRG) real estate development business in St.
Petersburg reported record results in October 2012.
In the mass market segment our new contract sales exceeded 30 th m2 in October
2012, up 99% year-on-year. Launch of our new projects to the market combined
with strong demand for new housing in St. Petersburg allowed us to deliver
such strong results.
October 2012 also saw record completions in the elite real estate segment.
During the month we completed nearly 70 th m2 of net sellable area in St.
Petersburg. During the first ten months of 2012 we completed nearly 95 th m2
of net sellable area. For the first time in our history we commissioned four
elite real estate projects simultaneously.
LSR Group reiterates its 2012 full year new contract sales guidance of 415 th
Note to Editors:
OJSC LSR Group is a real estate development and building materials company
founded in 1993 and operating in a number of complementary market segments.
Its core business areas are production of building materials, real estate
development and panel construction.
LSR Group's main operations are located in St. Petersburg, Moscow and
As of 31 December 2011 (according to Cushman & Wakefield Russia), the net
sellable area of the projects in LSR Group's real estate portfolio is equal to
8.4m m2 with the market value of RUB 124bn.
In 2011, the sales revenues of LSR Group were RUB 51,910m (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock
Exchange and its ordinary shares traded on MICEX-RTS.
For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72
This information is provided by RNS
The company news service from the London Stock Exchange
MSCKFLBLLFFBFBF -0- Nov/21/2012 09:03 GMT
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