23rd Oct 2009 07:00
Press-release
Krasnodar
October 23, 2009
OJSC "Magnit" announces change of net profit amount (RAS, standalone basis)
OJSC "Magnit" net profit in 3Q 2009 grew to 120,517 thousand rubles, which shows an increase by 27,582 thousand rubles compared to 2Q 2009 results. The main reason for the profit growth is the real estate sales in 3Q 2009, as well as reduction of the Company's expenses on auditing services in 3Q 2009 compared to 2Q 2009.
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Date of fact occurence: October 22, 2009 |
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OJSC "Magnit" net profit in 2Q2009: 92,935 thousand rubles |
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OJSC "Magnit" net profit in 3Q2009: 120,517 thousand rubles |
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Absolute change of the Issuer's net profit amount: 27,582 thousand rubles |
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Relative change of the Issuer's net profit amount: 29.68% |
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 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 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 September 30, 2009 the chain consisted of 2,960 convenience stores and 21 hypermarkets in 974 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, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of September 30, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,362 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for the six months ended June 30, 2009, the Company recorded consolidated revenue of approximately US$2,378 million and consolidated EBITDA of around US$224 million.
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