Income Statement

Consolidated Income Statement
	2005	2006	2007	2008	2009	2010	2011
Continuing operations	RUB m	RUB m	RUB m	RUB m	RUB m	RUB m	RUB m

Revenues	13,086	21,111	35,838	49,813	51,024	49,950	51,910
Cost of sales	(9,371)	(13,796)	(23,861)	(31,807)	(32,279)	(36,875)	(37,247)
Gross profit	3,714	7,314	11,976	18,006	18,744	13,074	14,662
Distribution expenses	(694)	(1,702)	(1,754)	(2,226)	(2,591)	(2,375)	(2,916)
Administrative expenses	(1,891)	(3,051)	(3,755)	(4,446)	(3,324)	(4,045)	(4,708)
Changes in fair value of investment property		130	8,037	(16,143)	(1,752)	(36)	152
Impairment of goodwill				(391)	(79)
Write-down of inventory					(529)
Other income and expenses	(101)	(56)	(124)	(203)	26	(348)	665
Operating profit/(loss)	1,028	2,635	14,380	(5,404)	10,495	6,270	7,855
Financial income	140	214	566	390	856	686	208
Financial expenses	(787)	(1,090)	(2,455)	(5,248)	(5,416)	(4,460)	(4,329)
Profit (loss) before income tax	381	1,759	12,491	(10,262)	5,935	2,496	3,734
Income tax expense	(118)	(658)	(3,311)	2,255	(1,345)	(754)	(1,302)
Net profit	263	1,101	9,180	(8,007)	4,590	1,742	2,432

Discontinued operations
Loss from discontinued operations, net of income tax	(150)	-	-	-	-	-	-
Net profit for the year	113	1,101	9,180	(8,007)	4,590	1,742	2,432
Attributable to:
Shareholders of the Company	11	985	8,885	(8,177)	4,714	1,721	2,473
Minority interest	103	116	294	170	(125)	(28)	(34)

Basic and diluted earnings per share
Ordinary shares	0.12 RUB	11.56 RUB	101.81 RUB	(87.30) RUB	50.33 RUB	17.76 RUB	23.93 RUB
Continuing operations
Ordinary shares	3.09 RUB	11.56 RUB	101.81 RUB	(87.30) RUB	50.33 RUB	17.76 RUB	23.93 RUB

LSR Group