13th May 2008 06:00
Press-release
Krasnodar
May 13, 2008
In 2007 net profit of OJSC "Magnit" calculated in accordance with Russian Accounting Standards (RAS, this accounting system does not include consolidated results (disclosed in accordance with IFRS) of the Group's companies) amounted to 12,075 thousand rubles including 4,587 thousand rubles for 4Q07. As of 1Q08 loss of OJSC "Magnit" calculated in accordance with Russian Accounting Standards amounted to 4,787 thousand rubles principally due to the increase of legal costs incurred in connection with the offering of OJSC "Magnit" shares on the stock exchanges.
The date of the fact that resulted in one-off increase (decrease) of net profit or net loss of the company by more than 10 percent is April 20, 2008.
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, 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