Raven Russia operating profit up

Russia-focused commercial property group Raven Russia saw its underlying operating profit rise 63 per cent to $112.1m (£75.2m) over the full year in 2012, thanks to the impact of earnings-enhancing acquisitions. Chief executive Glyn Hirsch said yesterday that the FTSE 250 company, which lets grade A warehouses in Russia, had seen strong tenant demand and limited new supply over the year, adding that Raven Russia’s portfolio was almost fully let.