RUSSIA: Mixed Q3 results at X5 Retail Group

By Dean Best | 20 November 2012

  • Q3 net profit vs year-ago net loss
  • Operating profit fell
  • Lower hypermarket sales hit turnover  

Russian retailer X5 Retail Group's bottom line improved in the third quarter year-on-year - but its sales slid and operating profit fell.

X5 booked a net profit of US$12.1m for the three months to the end of September, compared to a forex-affected loss of $2.1m a year earlier.

However, the retailer's net sales fell 0.2% to $3.62bn as sales from its hypermarkets tumbled by more than 18%. X5's operating profit came under pressure, slipping 15.4% to $98.2m.

The third-quarter results contributed to a 12% fall in net profit in the first nine months of the year to $147.3m.

Click here for our BRICs and beyond column, published in August after X5's half-year results, on why the next 12 months will be a telling year in the retailer's future.

Click here for the full release Q3 release from X5.

Sectors: Emerging markets, Financials, Retail

Companies: X5 Retail Group

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RUSSIA: Mixed Q3 results at X5 Retail Group

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