One of Russia's largest Internet firms, the Mail.ru Group, saw 2011 net profits skyrocket 160 percent to $207.6 million to IFRS, compared with 2010, the company said in a statement on Friday.
Revenue grew over 50 percent last year to $514.9 million. Earnings before Interest, Taxation, Depreciation, and Amortization (EBITDA) rose 140 percent to $282.8 million, while EBITDA margin amounted to 54.9 percent.
The company expects its revenue to grow by 35 percent this year to $695 million and EBITDA margin by 50 percent.
"Structural factors of our business remain unchanged, which allows us to enter 2012 with confidence," the firm said in the statement.
Among core shareholders of the Mail.ru Group are firms related to Russian billionaire Alisher Usmanov, South Africa's Naspers company and China's Tencent.
