Business
Interim Results
Interim Results.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n \nRNS Number : 4334V Aurora Russia Limited 12 December 2013 \n\nAurora Russia\n12 December 2013\n \nAurora Russia Limited (\"Aurora Russia\" or the \"Company\")\n \nResults for the six months ended 30 September 2013 \n \n· The Board and the Manager are focused on ensuring optimal exits from the investee companies\n \n· Performance in the underlying companies has been impacted by tough trading conditions\n \nFinancial highlights \n \n· Net asset value per share as at 30 September 2013 of 40.7p per share (Net asset value £30.2m) down from 55.3p per share (based on the 31 March net asset value of £61.2 less the tender offer amount of £20.2 million).\n \n· Cash and cash equivalents as at 30 September 2013 were £4.2m. \n \nPortfolio highlights \n \nUnistream Bank\n· Revenues for the nine month period ended 30 September 2013 were RUR1.81 bn, up 1% YoY.\n· PBT for the nine months to 30 September 2013 was RUR71.4 million up from RUR8.8 million for the same period last year.\n· Equity valuation of Aurora Russia's stake in Unistream at 30 September 2013 was £10.7m, compared to the valuation at 31 March 2013 of £12m.\n \nSuperstroy\n· Retail sales grew by 4% YoY for the nine months ended 30 September 2013 to RUR5.3 billion.\n· EBITDA of RUR180 million.\n· Equity valuation of Aurora Russia's stake in Superstroy at 30 September 2013 was £6.3m, compared to the valuation at 31 March 2013 of £10.4m.\n \nFlexinvest and Kreditmart\n· Revenues for the nine month period ended 30 September 2013 were £3.8 million, up 73% from £2.2 million for the same period to 30 September 2012\n· Equity valuation of Aurora Russia's stake in Kreditmart/ Flexinvest Bank at 30 September 2013 was £6.7m, compared to the valuation at 31 March 2013 of £10.4m.\n \n \nCommenting, Gilbert Chalk, Chairman of Aurora Russia, said:\n \n\"The Board remains determined to achieve recovery of value for shareholders through sale of the Company's investm...