Russia's HMS Group 2011 profit more than doubles

MOSCOW, April 25 Wed Apr 25, 2012 9:13am BST

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MOSCOW, April 25 (Reuters) - Russian pumps manufacturer HMS Group posted on Wednesday a 3.4 billion rouble ($115.85 million) net profit for 2011, an increase of 114 percent from 2010.

The company, which raised around $360 million in a London IPO in February 2011, said last year's revenues rose 19 percent to 27.5 billion roubles.

Net debt grew 11.7 percent to 4.8 billion roubles. ($1 = 29.3487 Russian roubles) (Reporting by Gleb Stolyarov; Writing by Katya Golubkova; Editing by Maria Kiselyova)