date:Sep 26, 2013
Magnit increased its 2013 profitability target and said sales growth will be at the top end of a forecast range. Earnings before interest, taxes, depreciation and amortization as a percentage of sales will be in line with the previous years 10.6 percent, Krasnodar, southern Russia-based Magnit said today in a statement. The retailer had previously forecast a margin of 9.7 percent to 10 percent.
Magnit, run and owned by billionaire Sergey Galitskiy, has the highest Ebitda margin among publicly t