Etalon Group sees sales fall 7% in H1
ST PETERSBURG. July 17 (Interfax) - Developer Etalon Group saw sales fall 7% year-on-year in January-June 2017 to 21.594 billion rubles, the company said in a statement.
The company sold 236,073 square kilometers of housing in H1, matching last year's result.
The group put 108,000 square kilometers of real estate into service in the first half of this year, up 15% on H1 2016.
Etalon Group, the parent company of St Petersburg-based holding LenSpecSMU, works in the construction of residential and commercial real estate and is one of the biggest construction companies in Russia's North-West. Its main beneficiaries are founder, President and CEO Vyacheslav Zarenkov and members of his family.
The developer posted net profits to International Financial Reporting Standards (IFRS) of 4.902 billion rubles in 2016, which is 9.7% less than in 2015. Revenue was up 16% to 49.022 billion rubles.
