OREANDA-NEWS. On September 27, 2007 Sistema-Hals (LSE, MICEX, RTS: HALS), one of the largest diversified companies on the real estate market in Russia and the CIS, announced its consolidated unaudited financial results for the first half of 2007 in accordance with US GAAP, as well as the results of an independent valuation of the Company's share in real estate property and projects conducted by Cushman & Wakefield Stiles & Riabokobylko (C&WS&R), reported the press-centre of Sistema-Hals.

Consolidated revenue for the first half of 2007 increased by 21,7% to USD 129,8 million;

Value of Sistema-Hals' stake in property and projects increased by 41,3% and totaled USD 2,882 million (as of July 1, 2007).
 
Felix Evtushenkov, President, JSC Sistema-Hals, said:"In the first half of 2007 we were focused on enhancing of our share in the most interesting development projects in different market segments. The growth in the value of Sistema-Hals' share in property and projects confirms that we are pursuing the right strategy of building a diversified portfolio of the most attractive properties and projects in the most attractive segments of the market. We are determined to further improve the operating efficiency of our business and increase market share with the aim of maximizing shareholder value."

Full report see here: http://www.sistema.com/section.html?s=114&id=471