Support The Moscow Times!

Russian Helicopters Net Up

Russian Helicopters said it still aimed for an initial public offering as it reported a nearly 13 percent rise in 2011 earnings, boosted by sales to India, China and the Russian Defense Ministry.

The company in May delayed a $500 million London share flotation due to lack of investor interest. "We continue to have an IPO in our sights," chief executive Dmitry Petrov said in a statement Monday.

Russian Helicopters reported a 12.7 percent rise in net profit to 7 billion rubles ($237.65 million) for 2011. Revenues rose 27.8 percent to 103.9 billion rubles. Helicopter deliveries rose 22.4 percent to 262, giving it a 14 percent share of the world's helicopter market.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.