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Russia's X5 posts $274 mln net loss in Q4 on impairment

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MOSCOW, March 7 | Thu Mar 7, 2013 10:49am EST

MOSCOW, March 7 (Reuters) - Russia's biggest food retailer, X5, reported on Thursday a fourth-quarter net loss of $273.8 million due to a $467 million non-cash impairment charge.

Net profit, adjusted for the charge the company warned of in January, totalled $102.2 million, compared to $134 million in the fourth quarter of 2011, X5 said in a statement.

Analysts had forecast an adjusted net profit of $88.9 million.
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