Etalon sales up 2% in Q3 as contracts decline
StockMarketWire.com - Etalon reported a 2% rise in sales in the third quarter as the construction company secured fewer contracts.
For three months ended 30 September 2019, new contract sales rose 2% to RUB 17.1bn with the number of contracts secured falling 13% to 2,579.
New contract sales increased by 26% year-on-year to RUB 55.8bn and by 10% year-on-year to 458,869 sqm, for the nine months ended 30 September.
Cash collections rose by 7% year-on-year to RUB 16.1bn. 'We anticipate that the transition to a single Etalon Group brand in October 2019 will help to further strengthen the company's position in Moscow and will provide strong support for operating performance,' the company said.
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