Aurrigo Share Discussion Threads

[jimbo11] 11/12/2008 16:16

Up 20% on massive volume
Getting revved up ready for attack on NAV of 116.9p

[hashertu] 11/12/2008 15:36

NAV is 116.9p per share.
Ju1cester. I have searched for news of Kreditmart in Moscow Times and found nothing.

[jimbox1] 11/12/2008 15:34

Net assets per accounts are £87.643m and there are 75 million shares in issue. Therefore NAV per share is 116.9p.
PS. I'm no relation to jimbo11

[jathomas] 11/12/2008 15:15

Nav is 16.9 or 116.9??

[lkfjmdku] 11/12/2008 15:11

ju1cester
Aurora would have to disclose if that were true.
But thats not een the issue since I dont see any attraction with this company. NAV is 16.9p so discount of 30% which is normal.

[jimbo11] 11/12/2008 14:58

last director buying at 50p

[jimbo11] 11/12/2008 14:58

750,000 at 12.5p could be directors

[jimbo11] 11/12/2008 14:53

looking good

[ju1cester] 11/12/2008 14:52

Isn't Kreditmart the one that is under federal investigation for banking violations during its capital restructuring programme. I'm sure that the article by Amie Ferris-Rotman, in the moscow times focussed on Kreditmart and 12 associated supply chain independents. Maybe I'm wrong.

[jimbo11] 11/12/2008 12:39

This is beginning to be noticed by top investors.

[jimbo11] 11/12/2008 12:37

STRONGEST BUY IN THE MARKET

WORTH 50P AT LEAST.

[barnes wallace] 11/12/2008 11:35

Unbelieveably cheap. Bought a few to tuck away for a few years.

[jimbo11] 11/12/2008 08:22

moving up

1 MILLION IN TRADES ALREADY

[jimbo11] 11/12/2008 08:13

Aurora Russia Limited

Results for the six months ended 30 September 2008


Investee companies positioned to emerge strongly from challenging environment



Financial highlights - NAV increase of 2% from 31 March 2008


*

Net asset value as at 30 September 2008 was £87.64 million, representing 116.9p per share, a 2% increase from £85.58 million as at 31 March 2008
*

Cash and cash equivalents as at 30 September 2008 of £6.17 million (£7.83 million as at 31 March 2008)
*

Consolidated net profit for the period of £1.08 million (£5.22 million for 15 months to 31 March 2008)
*

Consolidated earnings per share for the period of 1.44p per share (6.95p per share for 15 months to 31 March 2008)


Operational highlights - Hands on support to create strong platform for growth


*

Fully invested with £63.74 million in five companies, four of which are leaders in their field
*

Focus on providing considerable hands-on operational support to each of the investee companies to weather the financial crisis
*

Unistream's aggressive roll out of its cash desks on hold to focus on improving margins, controlling risk and increasing profitability
*

Kreditmart has sold two loan portfolios in the current period at a premium and focused on increasing commission and fee revenue while reducing costs
*

OSG Records Management will focus on margins and reducing its operating costs particularly those related to warehousing efficiencies
*

SuperStroy will focus on profitability in the next 12 months and curtail its roll out of new stores to one more in 2008 and no new store openings in 2009
*

Detailed results for the investee companies are contained in the investment management report


Russia - despite global financial crisis, economic growth in Russia expected to continue


*

Global financial crisis significantly impacted Russian economy however stock markets in Russia are relatively new, small and insignificant to the economy
*

Russian government injected reserves to provide liquidity to the financial markets and stimulate the economy with specific funding provided to major banks for SME lending
*

IMF and Russian government predicting economic growth in Russia of greater than 3% in 2009


Commenting, Dan Koch, Chairman of Aurora Russia, said:


'Despite the significant impact that the global financial crisis has had on the Russian economy, we remain encouraged by the expectations for continued growth in 2009. We have been doing what we believe is necessary to ensure that our investee companies are well prepared to weather these difficult times and are confident that once the crisis is over, growth will return and our investee companies will be well placed to benefit from the more stable operating environment.'

[jimbo11] 11/12/2008 08:10

VERY STRONG BUY

[jimbo11] 11/12/2008 08:10

NAV IS 116.9 PENCE

ITS INCREDIBLE

[lcoumetou] 05/12/2008 19:25

ok, I'm finally in.
Just bought 10k, waiting the results to buy more. If the price jump, I'm in for the profit and if it falls, I will buy another 20/30k to average it down... But it looks like a safe bet to me at 1-2years...

[hashertu] 17/10/2008 18:30

Darcon. I was wondering about this too.
Until the beginning of September I had thought AURR was remarkably resilient but then the fall began.
I would guess that we will now see a change of holding notice as it felt like a final dump today.
I too did not find anything in the update to justify the price change.
It prompted me to review the final results again and read the notes at the end.
Unless something catastrophic has happened to Kreditmart or VUB wrt loan quality, then AURR should still have cash to pay the management company.

[darcon] 17/10/2008 17:33

Anyone understand the reasons for the massive collapse in the price? The company's update seems to paint a positive picture yet massive sales have gone through today.

Is this just a case of a fund/bank liquidating its holding at any price in advance of crunch time when the Lehmans derivatives etc are settled at some point next week, or is this collapse more specific to AURR?

[moogies] 23/6/2008 08:09

RNS Number : 2508X
Aurora Russia Limited
23 June 2008





23 June 2008



Aurora Russia Limited

Audited results for the 15 months ended 31 March 2008



Aurora Russia Limited ('Aurora Russia' or the 'Company'), the AIM-quoted investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia, announces today the audited results of the Company for the 15 month period ended 31 March 2008.



As previously advised, Aurora Russia has changed its accounting reference date going forwards from 31 December to 31 March in order to allow its investee companies more time to provide their audited financial statements.



The financial information set out in this announcement does not constitute the Company's statutory accounts for the 15 month period ended 31 March 2008.



The financial information for the 15 months period ended 31 March 2008 is derived from the financial statements delivered to the UK Listing Authority. The Auditors reported on those accounts, their report was unqualified and did not contain a statement under section 65(3) of The Companies (Guernsey) Law, 1994.




Financial highlights

· Company net asset value as at 31 March 2008 was £85.58 million, representing 114.1p per share (£71.9 million or 95.9p per share as at 31 December 2006 representing a 19% increase and a 4% increase over the net asset value as at 31 December 2007)
· Revaluation of the Company investment portfolio as at 31 March 2008 resulted in an overall increase in value of £13.75 million from cost of £63.51 million to £77.26 million, an increase of 22%
· Consolidated net profit for the period of £5.22 million (net loss of £321,000 from incorporation in February 2006 to 31 December 2006)
· Consolidated earnings per share for the period of 6.95p per share (loss per share of 0.43p from incorporation in February 2006 to 31 December 2006)

Operational highlights

· Effectively fully invested with £63.51 million (uncommitted funds of £7.71 million) invested across five companies
· Four of the five investments are now leaders in their particular field
· Focus on continuing to provide considerable hands-on operational support to each of the investee companies

Unistream Bank (£10.34 million investment, 26% owned), a leading Russian international money transfer company

- US$3.68 billion transferred during 2007, an increase of 100% on 2006
- 69% increase during first four months of 2008 over the same period in 2007
- 238 cash desks throughout Russia and 44 under construction as at 30 April 2008
- Currently accounts for more than 1% of the global money transfer market
- The valuation of Unistream Bank at 31 March 2008 resulted in a 70% uplift of £7.22 million to £17.56 million

Kreditmart (£22.59 million investment, 100% owned), a finance company distributing mortgages, equity release loans and other consumer finance products

- 10 loan shops and 13 sales points across 8 regions of Russia
- Offering of 400 loan products and signed agreements with over 50 banks to distribute mortgage products
- 317 mortgages worth US$57.8 million originated as at 31 May 2008 with US$32.6 million of approved mortgages in the pipeline
- The valuation of Kreditmart (including Flexinvest) at 31 March 2008 resulted in a 18.5% uplift of £5.38 million to £34.42 million

Volzhski Universalny Bank "VUB" (£4.52 million1 investment, 100% owned), banking operations that will work closely with Kreditmart distributing retail products and booking mortgages

- Profit of £0.41 million for 2007and £5.66 million in assets as at 31 December 2007
- Currently headquartered in Samara, Russia with plans to relocate to Moscow
- Full retail banking licence
- Anticipated that VUB will enter into an agent bank agreement with Kreditmart, providing Kreditmart with a competitive advantage

SuperStroy (£16.62 million investment, 24.3% owned), one of the leading DIY retailers in Russia

- As at 30 April 2008, 42 stores operating across the Urals region and 11 new stores scheduled to open during 2008, almost doubling selling space since 31 December 2007
- In 2007, revenues were approximately US$94 million, an increase of 67% on the prior year
- Sales during the first four months of 2008 have increased by 66% over the same period in 2007
- Due to the recent date of the investment, SuperStroy continues to be held at cost but the currency revaluation at 31 March 2008 resulted in an uplift of £0.8 million to £17.42 million

OSG Records Management (£7.51 million investment, 39.4% owned), one of the largest records management companies in Russia, Kazakhstan and Ukraine

- Revenues in 2007 of US$10.6 million, an increase of 33% on 2006
- Revenues increased by 64% in first four months of the year over same period in 2007
- Former COO appointed as new CEO in January 2008
- The valuation of OSG at 31 March 2008 resulted in an uplift of £0.35 million to £7.86 million



Commenting, Sir Trevor Chinn, Chairman of Aurora Russia, said:



'We are extremely pleased to have delivered on our investment strategy and invested in five leading companies all of which are growing strongly as demonstrated by the portfolio's 22% revaluation gain and are well positioned to further capitalise on the opportunities presented by the expansion of the Russian economy. Our primary focus is to provide continued support to these companies in delivering significant changes in performance and value creation but we will also continue to identify a number of excellent opportunities within the financial, business and consumer services sectors.'

[moogies] 21/5/2008 09:54

Aurora Russia to buy Volzhski Universalny Bank

Industry Sector
Financial
Aurora Russia, the AIM-quoted investment vehicle that backs small and mid-sized private companies in Russia, has snapped up Volzhski Universalny Bank (VUB) through its Cypriot holding company, Flexinvest.

VUB will provide Aurora Russia with a retail banking platform that will focus primarily on retail mortgages, providing synergies with Kreditmart, the loan supermarket it already owns.

VUB is currently focused on the retail banking market and is based in Samara, Russia. As at 31 December 2007, VUB had RUR 263 million in assets (approximately £5.7 million) and posted a profit of RUR 19 million (approximately £0.41 million) for 2007.

The total investment of £6.4 million in Flexinvest will be used to purchase VUB for £4.52 million (RUR 210 million) with the balance of £1.9 million (RUR 87 million) being invested into the bank to cover post-acquisition infrastructure costs and fund ongoing operations. The deal has been approved by the Central Bank of Russia.

Monday, April 21, 2008