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VA - MotorSich sales increased by 78pct

According to the press release of the MSICH, the Company has increased its sales by 78% to UAH 2.493 billion, EBITDA grew 5.3 times to UAH 817.2 million and net income rose from UAH 22 million to UAH 516.8 million. This growth has been primarily accounted for by devaluation of the national currency, reduction of production costs and the fact that MSICH is launching new contracts with China, Algeria and Iran.

According to Millennium capital analyst “This news is positive for the Company and has taken MSICH share price up by 8.29% at UB and by 14% at PFTS. We believe this news will act as a driver for a subsequent growth of this company stocks price, hence we are going to come up with a new trade idea proceeding from an updated fair price prediction.”

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