date:Oct 29, 2013
Fast-growing Russian food retailer Magnit reported on Monday a 42-percent rise in net profit for the third quarter, beating market expectations, as it continued to win better purchasing terms from suppliers.
The company, however, trimmed its full-year revenue growth outlook to 28-29 percent from the prthxeviously expected 29-30 percent, citing a slowdown in the rate of inflation compared to the previous year.
Magnit, already Russia's biggest food retailer by revenue, said its third-quarter ne