Mail.Ru Rises to 13-Month High as Profit Tripling Boosts Outlook
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Mail.ru Group Ltd., the largest Russian-language Internet company, soared to a 13-month high after reporting a tripling in second-half net income and forecasting margins of 50 percent this year.
Global depositary receipts of Mail.ru, which holds stakes in Internet companies Facebook Inc., Groupon Inc. and Zynga Inc., jumped 8.2 percent to close at $38.20 in London, the highest level since Jan. 26, 2011. The GDRs are up 47 percent in 2012, the best start to a year since the stock started trading in November 2010.