Interim Report January - June 2009

(Thomson Reuters ONE) - * Net turnover amounted to SEK 23.5 m (30.1) for the period January - June* The result after tax amounted to SEK -463.7 m (41.7) for the period January - June. The lower result is explained by value changes, SEK -425.8 m, realized losses, SEK -15.2 m, and impairment losses, SEK -14.0 m in the property portfolio.* Earnings per share amounted to SEK - 40.81 (6.06) for the period January-June* The economic environment in Russia is still difficult, even though there are some recent signs of relief such as rising oil price, healthier financial markets and a stronger Rouble. Despite such positive signs, the activity on the real estate transactions market in St Petersburg is still low.* Book value of the properties amounts to SEK 1,097.3 m (1,662.8). The non-liquid market complicates the assessment of a fair market value, but the tendency is that the fall has decelerated.* Ruric continues its efforts to find a long term financing solution for the company. Discussions are held with the larger bond holders.* During the reporting period, Ruric and Storm Real Estate closed the sale of Grifon House. The transaction is partly paid according to agreed payment schedule.* Ruric continues its efforts for extending the investment agreement on Moika/Glinki.http://hugin.info/141656/R/1338052/319106.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 28.08.2009 - 16:00 Uhr
Sprache: Deutsch
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