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Etalon 2013 Revenue Soars 48% to $1.1Bln

Real estate company Etalon Group boosted its 2013 revenue by 48 percent to 39.9 billion rubles ($1.1 billion) and reported profit up 33 percent at 6.6 billion rubles according to international accounting standards, the company said last week.

Etalon's competitor, LSR, which also released its financial statements last week, generated revenue of 65.3 billion rubles last year — up 6 percent from 2012 — and upped its profits by 8 percent to 5.3 billion rubles, the company said.

Another major homebuilder, PIK, plans to publish its financial results in April.

Etalon's results greatly exceeded expectations and are certain to be the best in the sector, Kseniya Arutyunova, senior analyst at investment firm Rye, Man & Gor Securities told Vedomosti.

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