Dixy Profit Up 9%

Russia's third-largest food retailer Dixy Group said on Thursday that its first-quarter net profit rose 9 percent year on year to 386 million rubles ($12 million).

The earnings growth was held back by a 53-percent jump in finance costs due to increased debt level as well as higher depreciation expenses, the company said.

Its earnings before interest, taxation, depreciation and amortization increased 24 percent year on year to 2.6 billion rubles, giving a 6.2-percent margin, compared to 6.1 percent the year earlier.