Moscow, 2 of June, 2008 - Dixy Group, one of the leading companies in Russian food retail market, has published its 1st Quarter 2008 unaudited consolidated IFRS results.
Key figures for 1Q 2008 in comparison to 1Q 2007:
• Net Sales rose 48.6% to USD 459 mln.
• Gross Profit rose 60% to USD 110 mln.
• Gross Margin rose to 23.9% (growth of 7.7%)
• EBITDA grew 131 % to USD 24.5 mln.
• LFL Sales in USD rose to 30.2% (20% in RUR)
• Net Income rose to over USD 6.8 mln. compared with a loss of 780 thousand USD a year ago
Commenting on Group performance in the 1 Quarter of 2008, President of the Company Vitaly Klyuchnikov said:
“1Q 2008 results confirm the effectiveness of our strategy, which is set not only for expansion of the Dixy Group chain of stores, but also for the increase of performance indicators of our Company. For the first quarter of this year we have simultaneously boosted our sales and profit figures together with the profitability margins of our business. These results confirm the status of our Company as of one of the fastest growing and attractive for investors companies in Russian retail sector. It is our intention to continue on the path of intensive organic growth. We plan to open around 100 new stores in 2008.”
Net Sales in 2007 totaled 11,143 mln. RUR, which is 37% higher then in 1Q 2007 (Net Sales in USD totaled 459 mln., which is 48.6% higher then in 1Q 2007). Increase in Sales was due to an impressive increase in LFL Sales of 20% (in RUR) and successful openings of new stores (6 new stores opened in 1Q 2008).