Russian Helicopters said it still aimed for an initial public offering as it reported a nearly 13 percent rise in 2011 earnings, boosted by sales to India, China and the Russian Defense Ministry.
The company in May delayed a $500 million London share flotation due to lack of investor interest. "We continue to have an IPO in our sights," chief executive Dmitry Petrov said in a statement Monday.
Russian Helicopters reported a 12.7 percent rise in net profit to 7 billion rubles ($237.65 million) for 2011. Revenues rose 27.8 percent to 103.9 billion rubles. Helicopter deliveries rose 22.4 percent to 262, giving it a 14 percent share of the world's helicopter market.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
![paiment methods](https://static.themoscowtimes.com/img/contribute/payment_icons.png)
Remind me later.