Sadovaya Group boosts net income by 2.4x y-o-y in 1H11

Sadovaya Group (WSE: SGR PW, N/R) reported net income of USD 7.8 mln (up 2.4x y-o-y) in 1H11, the company announced in a press release yesterday. Net revenues increased by 2.3x y-o-y to USD 43.3 mln and EBITDA by 63% y-o-y to USD 10.1 mln. Management issued guidance for full-year net income of USD 17.92 mln (up 127% y-o-y) in 2011. Sadovaya Group floated a 25% stake on the Warsaw Stock Exchange in December 2010, raising USD 31.9 mln.