Intourist won't pay dividends - RUSSIAN AVIATION

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Intourist won't pay dividends

Russian Aviaton » Thursday June 30, 2016 01:43 MSK

At the Intourist annual meeting the holders approved the non-payment of the 2015-dividends, the company informed.

All issues included into the agenda were affirmed. The new BOD members were elected. The 2013-2014 dividends also were passed.

Intourist is an assignee of the Inturist Society set up in 1929. The working interest is held by AFK Sistema. Now the Company is a hotel operator keeping 11 hotels under the Intourist Hotel Group brand in Russia and abroad.

The 2015 net losses (RAS) 17% increased to 437.275mln rub. from 374.168mln rub.; revenues being down 10% to 220.534mln rub. from 244.252mln rub.; gross profit - 25% to 127.903mln rub. from 171.242mln rub.; pretax losses rose 13% to 388.169mln rub. from 343.556mln rub.

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