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Russian retailer Dixy Q1 net income rises 73 pct y/y
May 29, 2014 / 6:42 AM / 3 years ago

Russian retailer Dixy Q1 net income rises 73 pct y/y

MOSCOW, May 29 (Reuters) - Russian food retailer Dixy Group said on Thursday its first-quarter net profit soared 73 percent, year-on-year, to 667 million roubles ($19.3 million), helped by increased sales and a lower effective tax rate following the company’s restructuring.

The company opened a net 281 stores over the past year, increasing selling space by 19 percent. Revenues grew 18 percent in the first quarter to 49.9 billion roubles. ($1 = 34.5882 Russian Roubles) (Reporting by Maria Kiselyova; Editing by Megan Davies)

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