Russia: X5 posts lower profit
The group's net profit for the quarter slipped to $65.1 million from $66.3 million a year ago. Profit before tax slid to $86.6 million from $90.3 million.
However, EBITDA rose 3.7 percent to $284.2 million.
Net sales, in US Dollars terms, rose 7.5 percent to $4.160 billion. However, net sales, in RUR terms, grew 8.0 percent, which the group primarily attributed it to an 8.1 percent increase in net retail sales, resulting from organic store additions, price inflation, the positive performance of maturing stores added over the past two years and on-going promotional activities.
Source: rttnews.com
