Russian retailer Magnit Q2 profit up 45 pct, beats forecast
date:Jul 24, 2013
Russian retailer Magnit said on Tuesday its second-quarter net profit jumped 45.5 percent, year-on-year, beating forecasts, as it continued to gain market share by opening new stores.

Magnit, Russia's biggest food retailer by sales as well as store count, said net profit rose to $264.6 million from $181.9 million in the same period a year ago, above a Reuters poll forecast of $223 million.

Its earnings before interest, taxation, depreciation and amortisation grew 39 percent to $486 million, gi
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