Russia’s X5 Posts 17.6% Revenue Growth In Third Quarter
Russia’s X5 Retail Group has reported revenue growth of 17.6% year-on-year in the third quarter of its financial year.
Growth was driven by a 0.5% increase in like-for-like sales, and strong selling space expansion.
Tough External Environment
The retailer’s gross profit margin rose to 24.6% in the third quarter 2018, despite a tough external environment, the retailer said.
This performance has been attributed to a number of factors, including higher sales at its Perekrestok banner, and measures taken by the management to control shrinkage levels.
EBITDA amounted to RUB 27,689 million (€4 million) for the quarter, while the EBITDA margin grew by 36 basis points to 7.4% year-on-year.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.