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Russian Homebuilder PIK Says New Sales Jumped 26.5% in Q4

Russian homebuilder PIK Group said Friday that new sales jumped 26.5 percent in the fourth quarter, when the ruble's slide prompted consumers to seek ways of protecting their fast-devaluing savings.

The company also said new sales contracts were down 8.4 percent to 620,000 square meters in 2014, and its total cash collections decreased 17.5 percent to 61.7 billion rubles ($973.75 million) last year.

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