  Russia’s Mail.ru Group posts record 160% net profit February 24, 2012 - 13:17 AMT PanARMENIAN.Net - One of Russia's largest Internet firms, the Mail.ru Group, saw 2011 net profits skyrocket 160 percent to $207.6 million to IFRS, compared with 2010, the company said in a statement on Friday, Feb 24. According to RIA Novosti, revenue grew over 50 percent last year to $514.9 million. Earnings before Interest, Taxation, Depreciation, and Amortization (EBITDA) rose 140 percent to $282.8 million, while EBITDA margin amounted to 54.9 percent. The company expects its revenue to grow by 35 percent this year to $695 million and EBITDA margin by 50 percent. "Structural factors of our business remain unchanged, which allows us to enter 2012 with confidence," the firm said in the statement. Among core shareholders of the Mail.ru Group are firms related to Russian billionaire Alisher Usmanov, South Africa's Naspers company and China's Tencent.   Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."   Partner news Most popular in the section |  Related sections Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
