Russian grocer Dixy Group today (28 April) revealed that it swung back into profit during fiscal 2010 as sales jumped almost 20%.
Dixy said net profit rose to RUB257.7m (US$9.3) in 2010, up from a net loss of RUB111.9m in 2009. Gross profit jumped 17.6% to RUB17.11bn and EBITDA increased 26.5% to RUB3.67bn.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“EBITDA margin increased by 30 basis points over the same period last year to the level of 5.7% primarily due to the decrease in selling, general and administrative expenses,” the group said.
Revenue rose 19.4% to RUB64.8bn, Dixy said.
A spokesperson for Dixy told just-food that sales gains were the consequence of new store openings combined with more efficient back-end operations.
“Of cause new shops contribute to sales growth along with effective marketing, purchasing and logistics – we have seriously improved those in 2010,” the spokesperson said. “During the last year we have opened 124 new stores and plan to open another 150 in 2011.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
