Diksi Sales Up 4.96%

Russia’s third-largest food retailer Dixy Group said Friday that its same-store sales grew 4.96 percent in the first quarter after a 3.97 percent rise in the preceding three months.

First-quarter consolidated sales, including newer stores, grew 21.9 percent, year on year, to 42.3 billion rubles ($1.36 billion), as its chain increased to 1,544 from 1,168 a year ago.

In March alone, sales jumped 23.6 percent year on year, totaling 15.3 billion rubles, after a 20.2 percent increase in the previous month.

Dixy also reported a 14 percent fall in net income for the fourth quarter last year to 271 million rubles, and a 1.4 percent decline in earnings before interest, taxation, depreciation and amortization to 2.2 billion rubles, with a 5.5 percent margin. 

(Reuters)