Support The Moscow Times!

Grocers Issue Q1 Results

X5 Retail Group said Thursday that its net profit fell 32 percent in the first quarter while sales were about flat in dollar terms.

X5 said its net profit was $66.3 million, down from $96.9 million in the same period last year. Sales were 0.7 percent up to $3.87 billion, while the company's net profit margin fell to 1.7 percent from 2.5 percent.

Sedmoi Kontinent boosted revenue 36.7 percent year on year in the first quarter to 14.7 billion rubles ($475 million) from 10.8 billion rubles, Interfax reported Thursday, citing a company report. Net profit was 2.34 billion rubles, up 80 percent. Gross profit grew 36.2 percent to 3.4 billion rubles.

(Reuters, MT)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.