Motor Sich increases net income 9% y-o-y in 1Q11

Motor Sich’s (UX: MSICH UK) net income increased by 9.0% y-o-y to UAH 224.1 mln in 1Q11, and net revenue grew by 10.5% y-o-y to UAH 1.1 bln, Interfax reported on Friday. The company said it increased its product prices due to growth in commodity prices. Vitaly Gorovoy: Motor Sich’s interim 1Q results are generally in line with our expectations, thus we expect no market reaction to the news.