Shares digital

Raven Russia (RUS:AIM) – Finals PTP: $117.5m ($37m) Divi: 4p (2p)

The group’s full-year results made for brighter reading in a bearish property market, with taxable profits jumping to $117.5 million from $37 million a year earlier, and revenue coming in at $25.9 million against $11 million. The company has continued to expand its portfolio of warehousing, benefiting from rising rents and strong tenant demand. This is being driven by an increase in consumer spending, enabling major retailers to open more stores across Russia.

Meanwhile, yield compression is helping to drive up property prices. Raven Russia is aiming to move from Aim to the main market later this year as it believes ‘the current size, increasing maturity and ambitions of the company are more accurately reflected by listing on London’s main board.’ The shares were up 7% at 84.8p.

Shares says: Solid results which reflect a booming Russian economy.