Business
Interim Trading Update
Interim Trading Update.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n RNS Number : 8158W Aurora Russia Limited 25 November 2010 \n \n\n25 November 2010\n \n \nAURORA RUSSIA LIMITED\n \nInterim Trading Update \n \n \nAurora Russia Limited ('Aurora Russia' or the 'Company') today announces a trading update on its investee companies ahead of its interim results for the six months ended 30 September 2010 which are expected to be released in December 2010. \n \nHighlights for the period include:\n \n- Growth in the Russian economy has resulted in improved performance in the Company's investee companies (particularly in the three months ended 30 September 2010).\n \n- The Board currently expects OSG, Unistream and Superstroy to be profitable in the year ending 31 December 2010.\n \n- OSG remains the largest records management company in Russia, Ukraine and Kazakhstan. OSG had a record month in September in terms of revenues which were £1.2m, up 40% from the prior year period and representing 9% growth over the previous month. \n \n- Unistream continues to be the leading outbound money transfer company in Russia with c. 21% market share. Unistream's volumes grew 10.9% year-on -year (\"YoY\") in August and 9.7% YoY in September 2010. August was the first month of YoY volume growth since the financial crisis. \n \n- Superstroy is the leading DIY company in the Urals Region of Russia. It grew its revenues by 32% YoY in September following growth of 28% YoY in August and 23% YoY in July. Superstroy began to grow again in April following the global financial crisis.\n \n- Flexinvest Bank's interest and fee income grew 47% compared to the prior year period and was at £746,000 for the nine months ended 30 September 2010.\n \n- Kreditmart's broker fees were £424,000 for the nine months ended 30 September 2010, representing a 156% increase YoY. \n \n \nUpdate on Russian economy\n \nRussia's economy has returned to growth in 2010 aft...