Russian retailer Magnit saw its full-year revenue jump 41.9% in 2008, the company said in a trading statement today (12 January).

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Annual sales reached RUB132.4bn (US$4.54bn) in rouble terms over the 12 months.


Net retail sales increased by 46% year-on-year in dollar terms to US$5.3m.


Like-for-like revenue grew 18.8% in rouble terms and 22.29% in dollar terms.


During 2008, Magnit opened 382 stores, including some 371 convenience outlets and 11 hypermarkets.

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The company’s total store base reached 2,579 outlets at the end of 2008.

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