O'Key sales revenues rise 12.6% to 22 bln rubles in Q2
MOSCOW. July 12 (Interfax) - Russian retailer O'Key increased its sales revenues 12.6% to 22.054 billion rubles in the second quarter of this year, a company press release says.
Like-for-like sales were up 7.2% for the period.
First half revenue rose 12.1% year-on-year to 42.378 billion rubles.
The store count grew to 59 as of July 1, 2011, including 36 hypermarkets and 23 supermarkets, a net increase of seven stores compared with a year earlier (four hypermarkets and three supermarkets). No new stores were opened in the second quarter.
Selling space increased 9.7% year-on-year to 293,000 square meters, including a 20.8% increase in the supermarket segment.
O'Key maintains plans to open 11 hypermarkets this year and increase selling space 30%, company head Patrick Long said.
O'Key supermarkets operate under the O'Key Express brand name.
Revenue rose 21.8% to 82.666 billion rubles in 2010 under IFRS, on the strength of a 23.6% increase in selling space and a 7.7% increase in like-for-like sales. EBITDA grew 20.9% to 7.127 billion rubles and the EBITDA margin was 8.6%. Net profit increased 320% to 3.003 billion rubles.