Russia: X5 predicts growth slow down
"Obviously X5's growth has slowed down naturally and it is understandable given the size of the company... The kind of 30 to 40% growth that we did historically won't be in place any further," Chief Executive, Andrei Gusev said.
"I believe growth within 15 to 20% range for X5 for this year is something that we internally are considering. We are still searching for the final balance, but I would say growing above 15% is for sure what X5 can deliver this year," he went on.
X5 this month posted its first drop in quarterly underlying sales since its creation in 2006 and missed its full-year 2011 revenue growth forecast, sending its stock down 10%.
Source:af.reuters.com
