Increasing sales at Russian retailer Dixy have propelled a near-30% jump in first-quarter profits, the company revealed today (25 May).
Net profit increased by 26.9% year-on-year, rising to RUB164m (US$5.84m), while EBITDA jumped 28% to RUB1bn.
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The company said that the rise in profits was driven by margin improvements – which rose to 5.6% from 5.2% – and increasing revenues.
Group sales rose 20.8% to RUB18.1bn. Like-for-like sales increased 7.6%, while Dixy attributed the remainder of the gain to increased selling-space, which was up 11.7% on last year.
“Improved customer service and more aggressive promotional and advertising activities allowed an increased sales per square meter of selling space on the group level,” Dixy said.
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