MOSCOW, July 11, 2018 — PIK Group, the leading Russian residential developer, released today its trading update for the six months ended June 30, 2018 (1H2018).
1H2018 key operational highlights:
- Cash collections from sale of real estate increased by 26.0% to RUB 104.2 billion (1H2017: RUB 82.7 billion).
- Cash collections from construction services and others decreased by 41,2% to RUB 6,9 billion (1H2017: RUB 11.7 billion)
- New sellable area in the buildings put on sale decreased by 19.5% to 871 th. sq. meters (1H2017: 1 080 th. sq. meters).
Sergei Gordeev, President and Chairman of the Management Board, said:
«In the first half of 2018, PIK retained positive dynamics on the main operating indicators and reiterates the fulfillment of previously announced forecasts for 2018. In the first half of the year, the Company's main efforts were aimed at preparing for the launch of new projects in the second half of the year, as well as further improving operational efficiency and increasing the margins of our projects.»
2018 Outlook
- Total new sales to customers between the range of 1.7 — 1.9 million sq. m
- Total cash collections of RUB 180 — 200 billion
Enquiries:
PIK Group
Investors |
Media |
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Polina Kurshetsova |
Tatyana Gulina-Seiranyan |
Tel: +7 495 505 97 33 ext. 3785 |
Tel: +7 919 777 21 87 |
E-mail: ir@pik.ru |
E-mail: pressa@pik.ru |