Russian retailer X5 sales growth picks up in Q4

MOSCOW Thu Jan 23, 2014 2:16am EST

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MOSCOW Jan 23 (Reuters) - Russia's second-biggest food retailer X5 Retail Group met its 2013 revenue forecast as growth picked up in the final quarter of the year, it said on Thursday.

The company reported an 8.7 percent rise in 2013 sales to 532.7 billion roubles ($15.7 billion), meeting its 8 percent target. Sales growth accelerated in the fourth quarter to 11.9 percent compared with 6.6 percent in the previous period.