X5 Retail Group reported a strong rise in full-year profits, noting that net profits jumped up 64% to $271m. These results are due to the fourth-quarter performance, when profits nearly doubled to $88m. Meanwhile, full-year EBITDA was up 15% to $843.6m.
Earlier the company announced a strong rise in full-year sales. X5 continues to keep the average prices well below the country’s official inflation rate and provide considerable savings to Russian consumers. This approach supported strong like-for-like growth but put pressure on gross margin and EBITDA.
Source: www.freshplaza.com
The X5 Retail Group reported a strong rise in full-year profits, noting that net profits jumped up 64% to $271m. These results are due to the fourth-quarter performance, when profits nearly doubled to $88m. Meanwhile, full-year EBITDA was up 15% to $843.6m.
Earlier the group announced a strong rise in full-year sales. The company continues to keep the average prices well below the country’s official inflation rate and provide considerable savings to Russian consumers. This approach supported strong like-for-like growth but put pressure on gross margin and EBITDA.