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Russian food retailer X5 Retail earnings up in Q3

RBR Staff Writer Published 13 November 2013

Russian food retailer X5 Retail Group reported rise in earnings for the third quarter ended 30 September as sales grew by 4.3%.

Earnings rose to $70m in third quarter, as against $12.1m a year ago.

For the three months to September, earnings before interest, taxes, depreciation and amortization increased to $945.1m from $825m a year earlier.

Net sales of the company grew to $3.77bn from $3.616bn a year earlier. Gross profit margin amounted to 25.1%, compared to third quarter in 2012 while the chain's operating profit totaled $177.6m in Q3.

For nine months, net sales grew by 5.3% year-on-year (y-o-y) to $12.15bn while gross profit margin rose to 24.4%. Operating profit amounted to $436.7m.

X5 Retail Group operates multi-format stores including discount stores, supermarkets and hypermarkets.

The product portfolio includes national and private brands of food, alcohol and non-food items. It primarily operates through three store formats: soft discounters, supermarkets and hypermarkets.

The company operates stores under five brands: Pyaterochka, Perekrestok, Karusel, Pyaterochka-Maxi and Perekrestok-Express. Geographically, the company's operations span across Russia and Ukraine.