OREANDA-NEWS. February 22, 2011. Firma "T.M.M."-LLC announces its FY2010 results under Ukrainian Accounting Standards.

Key financial indicators of TMM Company for the year ended 31 December 2010 were as follows:

Gross revenue – UAH 506.9 million, 32% increase y-o-y (FY2009 gross revenue amounted to UAH 384.7 million);

Net revenue - UAH 422.4 million, 34% increase y-o-y (FY2009 net revenue amounted to UAH 316.3 million);

Net income – UAH 90.4 million, 4.7x increase y-o-y (FY2009 net income amounted to UAH 19.3 million).

Under Ukrainian Accounting Standards (as well as under IFRS) revenue is recognized upon commissioning of a real estate project. In 2010 TMM Company put into operation 6 residential projects with the total area of over 120,000 sq m, the pre-sales in which were recognized as revenue in the financial statements for the respective period.

In particular, TMM put into operation Sonyachna brama (1st stage) and Aviator residential complexes in Kyiv as well as Edelweiss, Carat, Cascade (1st stage) and Green Town (1st stage) residential complexes in Kharkiv.

Firma "T.M.M."-LLC (Ukraine) is a wholly owned subsidiary of TMM Real Estate Development Public Limited (Cyprus). The revenue of TMM Real Estate Development Public Limited is over 90% comprised of the revenue of Firma "T.M.M."-LLC.