PIK Group reported unaudited sales results for the fourth quarter and full year ended December 31, 2013. For the fourth quarter, the company reported total net cash collections of RUB 22,332,000 against RUB 25,141,000 a year ago.

For the year, the company reported total net cash collections grew by 11.8% to RUB 74.6 billion against RUB 66.7 billion a year ago. Net debt more than halved from RUB 38.1 billion as of December 31, 2012 to RUB 18.1 billion as of December 31, 2013. This was achieved due to a stronger operating cash flow and a successful equity issuance in 2013. New sales contracts to customers grew by 2.9% to 677,000 sq. meters against 658,000 sq. meters a year ago.

The company announced that for the fiscal 2014, the company expects total new sales to customers between the range between from 690 sq. meters to 710 sq. meters, with total gross cash collections of RUB 76 billion to RUB 78 billion.