Business
Annual Results
Annual Results.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n RNS Number : 4772O Aurora Russia Limited 30 June 2010 \n \n\n \n \n30 June 2010\n \nAurora Russia Limited (\"Aurora Russia\" or the \"Company\")\n \nResults for the 12 months ended 31 March 2010 \n \nInvestee companies well positioned to capitalise on future revival of Russian economy \n \nFinancial highlights \n \n· Net asset value per share at 31 March 2010 of 88.0p per share (Net asset value £99.0m)\n· Cash and cash equivalents as at 31 March 2010 were £5.70 million\n· Net profit for the period of £4.8 million \n· Earnings per share for the period of 5.78p per share \n \nOperational highlights \n \n· £73.9 million invested in five companies, three of which are leaders in their field \n· Successful fundraising of £15 million and acquisition of additional 45.5% of OSG\n· Intention to return up to £105 million over time to shareholders from proceeds of sale of Company's investments\n \nOSG\n· OSG remains the largest records management company in Russia, Ukraine and Kazakhstan\n· Increased stake in OSG to 95.5% following the Placing in January\n· OSG continued its expansion in Russia and as of Q1 2010 operated in 20 cities (up from 13 in 2009)\n· For the year ending 31 December 2009, revenues in Russia grew 30% year-on-year in RUR terms while Poland grew 27% year-on-year in PLN terms\n· EBITDA up 26% to £1.7 million for year ended 31 December 2009\n \nUnistream Bank\n· Unistream had c.21% of the outbound money transfer market according to Q1 2010 statistics published by the CBR\n· Rationalized proprietary distribution network by shutting down 88 under-performing cash desks at the end of 2009\n· Despite closures, the volume in Unistream's cash desks held up well and grew 4% year-on-year in Q1 2010\n· Revenue for the year ending 31 December 2009 was £51.9 million which was down from £55.1 mill...