28th Jul 2010 14:48
Press-release
Krasnodar
July 28, 2010
OJSC "Magnit" announces change of net profit amount (RAS, standalone basis)[1]
OJSC "Magnit" net profit for the 1st quarter of 2010 amounted to 56,287 thousand rubles vs. 197,108 thousand rubles for the 2nd quarter of 2010. The significant increase of net profit by 250.18% is due to the expenses in the 1Q related to the OJSC «Magnit» shares' placement, as well as the expenses for auditing services, while there were no such expenses in 2Q.
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Date of fact occurence: July 28, 2010 |
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OJSC "Magnit" net profit in 1Q 2010: 56,287 thousand rubles |
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OJSC "Magnit" net profit in 2Q 2010: 197,108 thousand rubles |
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Absolute change of the Issuer's net profit amount: 140,821 thousand rubles |
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Relative change of the Issuer's net profit amount:250.18% |
For further information, please contact:
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Oleg Goncharov |
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 Svishcheva |
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 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of June 30, 2010 the chain consisted of 3,464 convenience stores and 28 hypermarkets in 1,109 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of June 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 1,713 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2009, the Company recorded consolidated revenue of approximately US$5,354 million and consolidated EBITDA of around US$509 million
[1] The figures are counted according to the OJSC "Magnit" report prepared under RAS, are disclosed according to the Russian legislation and do not characterize the operation of the whole group of "Magnit" companies.
Related Shares:
MGNT.L