OREANDA-NEWS. March 26, 2010. The management of MotorSich <MSICH UK HOLD> has announced financial performance results of the Company in 2009: during this period, MSICH sales increased almost twofold - to UAH 3.9bln, its net income reaching UAH 741.2mn (by comparison with UAH 3.843mn that was achieved in 2008). The shareholders voted to support the decision to pay dividends for 2009 for a total worth UAH 5.9mn, or UAH 2.98 per share. The remainder of the retained profit will be used to increase the Company’s working capital, for long term debt payment and for the implementation of energy saving technologies. According to the Company’s plans for 2010, MSICH is to have sales worth UAH 4.5mn.

The announced MSICH financial results for 2009 and its plans for 2010 are practically in line with Millennium Capital’s forecasts. The Company managed to improve its Net Margin for the period – it is 19% now against 0.18% in 2008. It is important to point out that Millennium Capital gives its HOLD recommendation with a 7% upside because the current price (USD 295.31) for MSICH share has almost achieved its target price (USD 319) for 2010.