The profit of “Magnit” in RUR terms grew by 53.15% in Q1 2011 y-o-y and reached RUR 75.3bn. In USD terms the profit increased by 56.4% to USD 2.56bn. Magnit’s profit in the segment of hypermarkets has doubled in Q1 2011 and reached RUR 8.86bn and USD 296.6m.
Magnit’s net retail profit in March 2011 grew by 53.75% y-o-y and reached RUR 27.3bn.
During January-March 2011 Magnit opened 134 outlets and the total number of stores grew to 4189. During the same period X5 Retail Group opened 76 new stores with the total number increasing to 2545.
Source: www.foodretail.ru