Russian retailer O’Key Group recorded annual revenues of RUB 177.5 billion (€2.32 billion) for full year 2017, a 1.14% increase year on year, as it looks to expand its Da! discount format, according to an investor update published by the group this week.
The retail group’s gross profit rose by 0.5% to RUB40.4 billion, while group EBITDA tallied on par to last year’s levels at RUB 9.3 billion, and its O’Key EBITDA margins was down 0.2 percentage points to 6.8%.
The retailer’s new discounter format Da! grew its revenue by 80% from RUB5.8 billion to RUB10.4 billion, with a sales increase of 52% on a like-for-like basis.