Russian retailer Dixy has booked a mixed set of first-half results as profit fell on acquisition costs but operating profit climbed.
In the six months to the end of June, net profit slid 8.9% to RUB501m (US$15.5m), the retailer reported today (5 September).
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The group saw finance costs grow year-on-year by 146% to RUR1.1bn in the first-half, due to the funds raised to finance the acquisition of Victoria Group in June last year.
Operating profit, however, edged up 2.2% to RUB2.2m as net sales soared 80.9% to RUB70.8m.
In the first half of the year, Dixy opened 184 stores and increased its selling space by 22% year-on-year. As of 30 June, the company operated 1,276 stores.
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