date:Apr 24, 2014
in the first quarter from 9.3% a year earlier. The quarter is usually the least profitable of the year. Magnit maintained its guidance for a full-year margin of 10.5%, ranking it ahead of international peers such as Wal-Mart Stores Inc. and Carrefour SA, which had Ebitda margins of 7.5% and 6.9%, respectively, in their most recent financial years.
The market is not used to seeing Magnits profitability moving down and so its easy to look at todays numbers and be cautious, David Ferguson, an anal