icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
29 Oct, 2008 05:22

Magnit posts 98% jump in 3Q 2008 Net Profit

Magnit posts 98% jump in 3Q 2008 Net Profit

Russian retailer Magnit has posted a 3Q 2008 Net Profit of $118.9 million under IFRS.

The bottom line results is up 98% year on year, with EBITDA rising by 97.1% year on year for the 9 months to $265.3 million. Sales revenue jumped 50.9% to $3.88 Billion for the period.  The company attributed the stronger than expected results to stronger sales at existing stores, with average purchases rising 32%, and new store openings, as the company added 208 new outlets over the first 9 months of 2008.

Retailers brace for sales slowdown

X5 to slash office staff by 30% and freeze new store openings in 2010-2011

UralChem boost Net Profit to $257 million for 1H 2008

Podcasts
0:00
23:13
0:00
25:0