Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

PIK Revenue Was Up in 2010

Russian developer PIK announced its 2010 results, with revenues down by 7.5 percent year on year to 38 billion ($1.25 million) and earnings before interest, taxation, depreciation and amortization still in the negative zone at 800 million rubles.  

Net loss amounted to 3 billion rubles. Negative EBITDA and net income were due to low construction activity in 2009 and a consequent fall in completions in 2010. New sales contracts rose by 219 percent to 392,000 square meters in 2010, and average real estate price increases in Moscow and Moscow region of 12.9 percent and 7.0 percent, respectively, it said late last week.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more