Update: Prepared for the challenge
Despite the weakness of the Russian economy and sharp rouble decline, Raven Russia’s 2014 performance was robust, with underlying profits increasing and the balance sheet increasingly well positioned. 2015 and 2016 will see a focus on collecting rents and maintaining occupancy rather than growth, but we believe Raven is strongly positioned to weather the likely challenges. Earnings and cash flow are forecast to decline, and distributions more so, as cash is prudentially conserved to maintain financing flexibility and take opportunities when recovery comes.Raven Property Group is a property investment group focusing on commercial real estate in Russia. Co. has three operating segments: Property Investment, which acquires, develops and leases commercial property in Russia; Roslogistics, which is engaged in the provision of warehousing, transport, customs brokerage and related services in Russia; and Raven Mount, which sells residential property in the U.K.
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