Eastern European Markets
January, the 30th, 2008

Konsu opens an office in Kiev

Konsu Oy, a consulting company specializing in business start-up, financial management, auditing and legal services for Western businesses in Russia, announced today that it will open an office in Kiev, Ukraine in February. Konsu has operated for 15 years and currently has offices in St. Petersburg, Moscow and Obninsk.

“We support businesses to succeed in Russia. Our clients are currently looking for growth opportunities in Ukraine. To be able to serve our clients well, we need to be close to them. Therefore, the decision to open an office in Kiev was an easy one to make” says Ms Pirjo Karhu, the executive director of Konsu Oy.

Strong economic growth in Russia has strengthened foreign investors’ belief in stable operational setting and new businesses are established daily. Side-effects of fast economic growth include a rapid wage inflation which has made especially St. Petersburg and Moscow expensive locations for SME businesses. As a result, locations outside the major population centres yet within an easy reach to customers are increasingly attractive to the foreign investor. Kiev, the capital of Ukraine, is one of the growth centres where well-educated labour force is still available while the cost level is currently below the level of the main Russian cities.

The population of Ukraine total 50 million of which a tenth live in Kiev. 2000 Western companies are located in Kiev. Konsu’s office is located in the very centre of Kiev and initially include an office manager, a chief accountant and a lawyer, who are all Ukrainian. They report to Regional Director Pasi Järvilehto, a Finn that has for a number of years worked in Russia, Ukraine and Kazakhstan. “Foreign investment in the region continues to grow at an accelerating pace. This means an increase in demand for the kind of services we offer: business start-up, financial management, auditing and legal services. With our 15 years of experience in supporting Western companies to succeed in Russia, combined with the expertise of our local staff, we have a solid basis to contribute to the success of our clients also in Ukraine”, Mr. Järvilehto says.

About Konsu Group:
The Konsu Group is a leading consulting company offering Western companies business start-up, financial management, auditing and legal services in Russia. We employ 140 Russian business professionals of which 130 are located in the Russian offices. The head office is situated in Lappeenranta, Finland. In 2007, the turnover of the Konsu Group reached 4,7 million euros, boasting annual growth of 54%. The year 2008 prospects are very bright, both in terms of expected growth and profitability. Konsu is part of the Accountor Group. The Accountor Group employs 1.500 professionals and serves 15.000 clients being the largest financial management services group in Northern Europe and the Baltic Sea Region.

For more information:
Executive Director Pirjo Karhu.
tel. +358 400 554 596

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