date:Jan 28, 2014
Russian supermarket chains Magnit and OKey have recorded strong growth in sales and profit for their year-end fiscal quarters.
Russias largest retailer, Magnit, announced that its Q4 net profit jumped 35% to $362 million with EBITDA growing by 32% to $624 million.
The group said that its record EBITDA margin of 12.5%enabled it to manoeuvre competitively in the Russian marketplace and gives it the ability to balance profit margins and sales growth.
Despite a slowdown in December, sales during