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bne Invest
August 2, 2019 www.intellinews.com I Page 7
Reportedly, O1 Properties now invited the founder of Klyuch (Key) co-working chain Pavel Fyodorov to join the company as a director for new products.
Vedomosti reminds that a number of heavyweight investors and entrepreneurs are active in the
co-working and alternative business space segments, such as the founder of Tekhnonikol Igor Rybakov (SOK co-working chain, one of the largest in Russia) and the founder of country's largest real estate developer PIK Sergei Gordeev.
Russian cumulative profits were RUB6,743bn for the first five months of this year, up by 38% on 2018 IntelliNews Pro
Russian corporate cumulative profits for the first five months of this year were RUB6,743bn, up by 38% on the pervious year.
Russian companies are track for their most profitable year in the last four years as a corporate recovery starts to gather momentum. Russian corporate profits in May (last available data) were up by RUB1,288bn ($2.03bn), which was about average for the year to date.
Cumulative profits for the first five months of this year were RUB6,743bn, up by 38% on the pervious year.
In general while profits have grown slowly over the last three years, in 2019 the cumulative profits growth is well ahead of all three previous years and a sustainable recovery in corporate profits is underway, as is evident in the improving corporate confidence survey (see above).
This recovery started in the second quarter of
last year but this year it clearly gathering some momentum now, as in every month this year corporate profits have been at least 20% or higher than in the previous year.