30th Mar 2009 12:16
RNS Number : 7070P
OJSC Magnit
30 March 2009
Press-release
Krasnodar
March 11, 2009
Dear Ladies and Gentlemen! / Уважаемые Дамы и Господа!
We are pleased to inform you that OJSC “Magnit” plans to release its audited FY 2008 results in accordance with IFRS on Wednesday, April 01, 2009.
For further information, please contact:
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Oleg Goncharov
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Director, Investor Relations
e-mail: [email protected]
tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100
Mob.: +7 (903) 411-40 -35
Direct line for investors only: +7 (861) 277-45-62
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Dina Chistyak
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Manager, Investor Relations
e-mail: [email protected]
tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101
Mob.: +7-961-511-02-02
Direct line for investors only: +7 (861) 277-45-62
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Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company “Magnit” is a holding company for a group of entities that operate in the retail trade under the “Magnit” name. The chain of “Magnit” stores is one of the leading operators in the Russian food retail market. As of December 31, 2008 the chain consisted of 2,565 convenience stores and 14 hypermarkets in 856 locations in the Russian Federation.
Approximately two-thirds of the Company’s stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of December 31, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
This information is provided by RNS
The company news service from the London Stock Exchange
Related Shares:
MGNT.L