X5 boosts revenue by 27.5% in 2016, in line with forecasts
(technical repeat)
MOSCOW. Jan 24 (Interfax) - X5 Retail Group increased revenue by 27.5% in 2016 in comparison with 2015 to 1.026 trillion rubles, the company said in a statement.
In Q4, the company's revenue also rose by 27.5% to 291.3 billion rubles.
In December the retailer's sales growth slowed to 26.2% from 28.4% in November (in October growth amounted to 28.3%).
The rate of X5's revenue growth for the year turned out to be in line with expectations: the company's CEO Igor Shekhterman at the start of December forecast that for the year the company's revenue would grow 27%-28%. Interfax's consensus forecast envisaged revenue growth by 27.4%.
In Q4, X5 surpassed Magnit by sales volume: Magnit's revenue rose by 9% in October-December to 282.5 billion rubles. In addition, for the year, X5's revenue was larger than Magnit's - without account of its cosmetics stores.