Russia's largest grocery chain, X5 Retail Group, saw fourth quarter 2010 net profit rise 99% year-on-year to $88 million to IFRS, the company said in a statement on Thursday.
Net margin amounted to 2.5% in the quarter, the firm said.
Net sales increased 35% year-on-year in ruble terms to 106,670 million rubles or 32% in dollar terms to $3.483 billion.
Gross profit totaled $767 million, for a gross margin of 22.0%, X5 said.
Fourth quarter EBITDA amounted to $250 million, and EBITDA margin to 7.2%.
The company's annual 2010 net profit rose 64% to $271.2 million, net sales rose 24% year-on-year in ruble terms to 342,580 million rubles or 29% in dollar terms to $11.280 billion.
The company's 2010 gross profit totaled $2.629 billion for a gross margin of 23.3%. EBITDA amounted to $844 million, EBITDA margin to 7.5%.
X5 said that 2011 would be a critical year for its organic store expansion plan and fast-tracked integration of the Kopeyka discount chain, which it recently purchased.
MOSCOW, April 14 (RIA Novosti)
