Bloomberg News

PIK Nine-Month Cash Collections Rise 32% Led By Apartment Sales

October 20, 2011

Oct. 20 (Bloomberg) -- Pik Group, a Russian property developer part-owned by billionaire Suleiman Kerimov, said nine- month cash collections rose 32 percent to 35.1 billion rubles, led by growth in apartment sales and prices.

Collections from apartment sales climbed 55 percent to 22.4 billion rubles, PIK said today in a statement.

Link to Statement:{NSN LTCOOE3HBS3O <GO>}

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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