Qiwi plc keeps forecast for net revenue, net profit growth in 2016 at previous level
MOSCOW. May 18 (Interfax) - Qiwi maintained its previous forecast for the growth of adjusted net revenue and adjusted net profit in 2016 at the level of 5%-8% and 7%-12%, respectively, the company said in a statement.
It was reported earlier that in 2015 Qiwi plc increased adjusted net revenue to International Financial Reporting Standards (IFRS) by 16% to 10.228 billion rubles and adjusted net profit by 18% to 4.142 billion rubles.
"The overall macroeconomic conditions continue to adversely affect the purchasing power of Russian population as decreasing real wages put pressure on the disposable income. This in turn leads to the overall decrease in consumer spending and consequently our payment volumes," Qiwi said, repeating comments made in March, when it first provided guidance figures for the current year.
Adjusted net revenue in the first quarter was on a par with last year, but Qiwi expects a more pronounced dynamic beginning as early as the second quarter, CFO Alexander Karavaev said during a conference call for analysts.
Adjusted net revenue totaled 2.509 billion rubles in Q1 2016 under IFRS, compared with 2.515 billion rubles in Q1 2015. Adjusted net profit rose to 1.233 billion rubles from 1.117 billion rubles.
Qiwi plc operates one of the biggest payment services networks in Russia. The group includes Qiwi Bank LLC and Qiwi Payment Services Provider.
