OJSC LSR Group LSRG Record results in real estate development

  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 
m2.





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
Yekaterinburg.
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
E-mail: press@lsrgroup.ru
www.lsrgroup.ru



                     This information is provided by RNS
           The company news service from the London Stock Exchange

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