LSR sales and profits up

By Steve Skinner18 February 2009

LSR Group, Russia

LSR Group, Russia

Russian construction group LSR reported preliminary sales of RUB 48,5 billion (€ 1 billion) for 2008, up +36% on the RUB 35,8 billion (€ 780 million) recorded in 2007. Net profit for 2008 also rose by +24% from RUB 4,8 billion (€ 106 million) in 2007 to RUB 6 billion (€ 130 million).

In LSR's building materials, aggregates and construction services divisions, the Group recorded a +9% increase in sales of reinforced concrete from 578000 m3 in 2007 to 632000 m3 in 2008. Sales of sand increased by +65% from 555000 m3 in 2007 to 914000 m3 last year. Crushed granite demand also rose with sales up +34% to 17957000 m3 from 13449000 m3 in 2007.

Sales in the Group's construction services segment also increased with a +21% growth in demand for its tower crane services.

The non-audited results for the building materials, construction, real estate and aggregates Group will be published as consolidated statements in April 2009.

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