20 Apr 2011 18:54

Magnit profit soars due to subsidiary dividends

MOSCOW. April 20 (Interfax) - Magnit boosted net profit to Russian Accounting Standards (RAS) to 427.754 million rubles in Q1 2011, from 169.179 million rubles in Q4 2010 and 56.287 million rubles in Q1 2010.

"Significant change of income was due to dividend payment made by its subsidiary CJSC Tander in Q1 2011 according to the results of 2010," the retailer said in a statement.