Russian infrastructure recovery boosts Mostorest’s results
By Steve Skinner20 May 2010
Russian contractor Mostorest reported 2009 sales of RUR 33,2 billion (€ 852 million), up +16% on 2008 with pre-tax profits of RUR 3,3 billion (€ 86 million).
General director Vladimir Vlasov said, "Growth in 2009 was due to the expansion of the company's portfolio of construction projects and especially major state commissioned infrastructure projects, as well as increased productivity and profitability.
"I believe that Mostorest's 2009 results indicate that recovery is already well underway in the Russian infrastructure sector," he said.
During 2009 Mostorest secured contracts on some of Russia's key infrastructure projects such as the M-4 Don motorway, the fourth Moscow ring road and a number of projects in Sochi related to the 2014 Winter Olympic Games.