9th Jul 2008 09:12
Press-release
Krasnodar
July 9, 2008
OJSC "Magnit" announces the directorate change
Krasnodar, July 9, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) announces an appointment of a new CFO.
Dear Ladies and Gentlemen!
We would like to inform you that as of July 1, 2008 Khachatur Pombukhchan was appointed a Chief Financial Officer. Alexandr Prisyazhnyuk was assigned to a position of a Deputy CEO for strategic development.
For further information, please contact:
|
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 |
|
Dina Chistyak |
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 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, 2007 the chain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700 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, 2007 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 802 vehicles.
In accordance with the audited IFRS consolidated financial statements, for 2007, the Company posted consolidated revenues of approximately US$ 3,677 million and a consolidated EBITDA of around US$ 219 million.
Related Shares:
MGNT.L