MOSCOW Jan 22 Fast-growing Russian retailer
Magnit reported on Tuesday a 92 percent increase in
net profit for the whole of 2012 helped by chain expansion and
Net profit came in at $803.9 million, the company said in a
preliminary results statement based on management accounts, up
from $418.7 million in 2011.
Fourth-quarter net income reached $264 million, according to
Reuters calculations, above a $218.8 million average analyst
forecast in a Reuters poll.
Its full-year earnings before interest, taxation,
depreciation and amortisation (EBITDA) increased to $1.5 billion
from $939.3 million for a 10.56 percent margin compared to 8.22
percent in 2011.
The company earlier reported a 33.6 percent rise in last
year's revenues in rouble terms, beating its forecasts, as it
opened over 1,500 stores during the year.