Russia's Dixy Q1 revenue growth slows to 19 pct

MOSCOW, April 20 (Reuters) - Russian discount food retailer Dixy Group (DIXY.MM) reported on Monday a 19 percent rise in first quarter revenue in rouble terms, down from a 24 percent increase in the previous quarter.

The report confirms a broader trend in Russia, which is facing its first recession in a decade, as retail sales fell for the first time in a decade this year because companies cut jobs and wages. [ID:nLJ686437]

In the whole of 2008, Dixy reported a 32 percent rise in sales with the growth slowing to 24 percent in the final quarter.

On Monday, it said its revenues in U.S. dollar terms fell 15 percent in the first quarter because of a steep rouble devaluation. The firm said revenues stood at 13.294 billion roubles or $392 million during the period.

As of March 31, the group operated 495 stores, up from 493 at the end of the year. Dixy (DIXY.RTS) is controlled by Igor Kesayev through his Mercury holding company, which owns 51 percent. (Reporting by Dmitry Zhdannikov; editing by Simon Jessop)