Motor Sich Profits Reach USD 9 mln In 2006
23 January 2008
Motor Sich’s (MSICH: BUY) CEO Vyacheslav Boguslaev announced yesterday that the company’s net profits reached USD 9 mln in 2006, just down from the 2005 figure of USD 9.7 mln but in line with our forecast of USD 9.1 mln. Boguslaev noted that the company’s sales of products not connected to airplane engines grew to 18% of sales in 2006. The PFTS moved MSICH to its second tier of stocks yesterday. The company has announced plans to hold an IPO for a 3% stake in 1Q07.
