date:Jul 24, 2014
gained 3.5 percent, outperforming the broader market index which was down 0.6 percent.
The food retailer - Russia's No.1 by both sales and store numbers - raised its guidance after reporting a 34 percent year-on-year rise in second-quarter net profit to $356.3 million. Analysts had forecast $310 million.
Chief Executive Sergei Galitsky, who built the Magnit empire from a single shop in his home city of Krasnodar, gave a one-word comment in the news release announcing the earnings: Enjoy.
Earn