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Mostotrest swings to 469 mln rubles RAS profit in Q1 (Part 2)

 Mostotrest (MOEX: MSTT) had net profit 468.8 million rubles to Russian Accounting Standards (RAS) in Q1 2014 compared with losses of 1.24 billion rubles in the same period of last year, the transport infrastructure construction firm said in a report.

 
Sales revenue grew 4.6% year-on-year to 15.74 billion rubles.
 
Gross profit rose 61.5% to 1.914 billion rubles, cost of sales was virtually unchanged at 13.826 billion rubles and profit from sales was up 160% to 908.481 million rubles.
 
Long-term liabilities jumped nearly 13-fold to 25.958 billion rubles. Short-term liabilities were down 40% to 43.087 billion rubles.
 
It was reported earlier that Mostotrest posted an IFRS net profit of 2.3 billion rubles in 2013, 46.5% less than in 2012.
 
Mostotrest is a diversified infrastructure construction company and a leading Russia bridge builder. The Mostotrest Group includes Transstroymekhanizatsia LLC, OSSP, CJSC Mostotrest-Servis and North-West Concession Company LLC.
 
Marc O'Polo Investments, whose beneficiaries are Arkady and Igor Rotenburg, as well as N-Trans executives Konstantin Nikolaev, Nikita Mishin and Andrei Filatov, owns a 38.6% stake, 29.4% of shares are held by the Blagosostoyanie non-governmental pension fund, and 32% are in free float.
 
 
18 May 2014

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