12 Oct 2009 12:26

Magnit boosts revenue 31% to 121.65 bln rubles in 9 mths

MOSCOW. Oct 12 (Interfax) - Russian retail chain Magnit boosted retail sales 30.96% in January-September 2009 compared with the same period last year, the company said in a statement.

Like-for-like sales rose 7.3% year-on-year.

The average receipt in the nine months rose 8.4% in ruble terms. The number of receipts declined by 1%.

Revenue in dollar terms declined 3% to $3.75 billion in the nine months according to management financials.

Dollar revenue in September rose 1.55% year-on-year to $448.6 million due to the strengthening ruble.

Ruble revenue grew at a below-average pace of 23.77% in September, to 13.8 billion rubles.

Magnit had opened 399 stores by the end of September, bringing its total of 2,980, including 21 hypermarkets.

Magnit's stores are concentrated in the Southern, Central and Volga federal districts.