LSR Group’s net loss amounts to 8.007 billion RUR

The BOD of LSR Group (LSE: LSRG, MICEX, RTS: LSRG) confirmed the company’s consolidated financial report (drawn up in accordance with the IAS) for 2008, the spokesperson for the company reports.

Following the investment assets reassessment, the Group’s net loss amounted to 8.007 RUR last year, with profits, however, going up by 39% and EBITDA by 67%.

‘The crisis did affect LSR Group’s financial performance in 2008, since the demand dropped in the second half of the year and our investment assets grew devaluated. At the same time, even though these losses do reduce our revenues, they do not impact either the company’s cash flows or its liquidity,’ says LSR Group’s BOD member and General Director Igor Levit.