LONDON (Alliance News) - Etalon Group Ltd, the developer of residential real estate in Russia, Monday reported higher contract sales and average selling prices for the fourth quarter of 2013.
In a trading update, Etalon said it made 109,797 square metres of new contract sales in the quarter, worth RUB9.41 billion, as average prices increased 9% to RUB86,000 a square metre. For the year as a whole new sales were up 13% to 356,075 square metres, a 27% increase in ruble terms to RUB30,227 million.
It also delivered 468,000 square metres in 2013 as a whole, having completed 440,000 square metres in the second half of the year.
Etalon shares last traded at USD5.45 in London.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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