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Net profit decrease (RAS)

28th Jul 2009 07:00

RNS Number : 3750W
OJSC Magnit
28 July 2009
 



Press-releaseKrasnodar

July 28, 2009

OJSC "Magnit" announces change of net profit amount (RAS, standalone basis)1

"OJSC "Magnit" net profit in 2Q 2009 fell to 92 935 thousand rubles, which shows a decrease by 399,538 thousand rubles compared to 1Q 2009 results. The main reason for such a significant distinction is due to the receipt of dividends in 1Q 2009 from its subsidiary - CJSC "Tander" - as a result of its 2008 financial performance.

Date of fact occurence: July 27, 2009

OJSC "Magnit" net profit in 1Q2009: 492,473 thousand rubles

OJSC "Magnit" net profit in 2Q2009: 92,935 thousand rubles

Absolute change of the Issuer's net profit amount: 399,538 thousand rubles 

Relative change of the Issuer's net profit amount: 81.13%

For further information, please contact:

Oleg Goncharov
Director, Investor Relations
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
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

_____________

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.

 

 

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, 2009 the chain consisted of 2,790 convenience stores and 18 hypermarkets in 922 locations in the Russian Federation.
 
Approximately two-thirds of the Company’s stores are located in cities with population of less than 500,000 inhabitants. Most of its stores are located in the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
 
As of June 30, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,345 vehicles.
 
In accordance with the audited IFRS consolidated financial statements for 2008, the Company posted consolidated revenue of approximately US$5,348 million and consolidated EBITDA of around US$402 million.
 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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