Russian grocery chain Dixy posted a net profit of 293 million rubles ($9.4 million) in the third quarter of 2011 under IFRS compared with a net loss in the same period last year, the company said in a statement on Wednesday.
The company's revenue rose 89.2 percent in July-September 2011 to 29.2 billion rubles. Gross profit was up 130 percent to 8.1 billion rubles, while gross margin increased to 27.7 percent from 22.8 percent.
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) grew about 230 percent to 1.7 billion rubles in the reporting period. The EBITDA margin increased to 6 percent from 3.4 percent.
Net margin stood at 1.0 percent of sales in the third quarter of 2011 compared with a loss in the same period last year. Net cash from operating activities was 682 million rubles in the reporting period after a negative figure year-on-year.
The company's net profit in January-September 2011 amounted to 850 million rubles ($27.3 million) after a 37 million ruble net loss year-on-year. The company's revenue in the first nine months of this year grew 48.2 percent to 68.315 billion rubles, including the results of the recently acquired Victoria Group.
