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Development and construction group Etalon reported a rise in core earnings after revenue swelled to a record in the first half of the year.
For the six months ended 30 June 2021, Pre-PPA earnings before interest, taxes, depreciation and amortisation, or EBITDA, rose by 125% year-on-year to RUB 11.1 billion as revenue rose by 29% to a record high of RUB 39.9 billion.
'As a result of our efforts to reduce overhead costs, SG&A as a share of revenue decreased from 14% to 11%,' the company said.