29th Sep 2008 12:43
Press-release
Krasnodar
September 29, 2008
OJSC "Magnit" announces the opening of the eleventh hypermarket
KRASNODAR, September 29, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the eleventh hypermarket.
Dear Ladies and Gentlemen!
We are glad to inform you that today is the opening of the eleventh "Magnit" hypermarket located at the corner of Antonova and Perspektivnaya str., Saratov. Total space of the store is 11,200 sq. m. and its selling space is 7,000 sq. m. (2,800 sq. m. is for lease). Assortment of the "Magnit" hypermarket consists of about 13,000 SKUs, out of which 68% are food items. There are 20 cash desks installed in the sales area.
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 June 30, 2008 the chain consisted of 2,312 convenience stores and 9 hypermarkets in more than 760 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 June 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,030 vehicles.
In accordance with the audited IFRS consolidated financial statements for 1H2008, the Company posted consolidated revenues of approximately US$ 2,470 million and a consolidated EBITDA of around US$ 158 million.
Related Shares:
MGNT.L