Russia’s Mail.ru Group posts record 160% net profitFebruary 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 | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |