PIK Shares Advance the Most in Two Months on Revenue Jump

PIK Group (PIKK) climbed the most in almost two months after the Russian property developer said gross cash collections jumped 57 percent in the first half as the country’s economic recovery drove demand for new apartments.

The company advanced 1.4 percent to 108.28 rubles by the 6:45 p.m. close in Moscow, its biggest advance since May 30.

Revenue rose to 23.3 billion rubles ($845 million) from 14.9 billion rubles in the same period last year, PIK said in a statement today.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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