MOSCOW, April 23 Fast-growing Russian retailer
Magnit said on Monday its first-quarter profit rose
158 percent in dollar terms compared to a year ago, beating
market expectations, and reiterated its growth targets for the
year as a whole.
Magnit said in a statement net profit rose to
$157.7 million from $61 million in the first quarter of 2011,
against an analyst average forecast of $113.7 million.
The group opened 157 stores during the first three months of
2012, increasing its selling space by more than a third year on
Earnings before interest, taxation, depreciation and
amortisation (EBITDA) increased 105 percent to $162 million,
against a $266 million average forecast, with a 9.65 percent