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: email@example.com www.lsrgroup.ru This information is provided by RNS The company news service from the London Stock Exchange END MSCKFLBLLFFBFBF -0- Nov/21/2012 09:03 GMT
OJSC LSR Group LSRG Record results in real estate development
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