Support The Moscow Times!

Magnit Raises Outlook

Top grocery retailer Magnit on Monday raised its full-year 2012 sales guidance to 30-32 percent from 30 percent and said growth was expected to slow down to 25-27 percent next year.

Magnit, with more than 5,700 stores, also said its capital expenditure program would total $1.6 to $1.7 billion this year and $1.6 to $1.8 billion in 2013.

This year's EBITDA margin is seen at 9.0-9.5 percent, the company said in a statement.

The company said in July it would keep expanding aggressively next year, with preliminary capex guidance at $1.8 to $2.0 billion.


Related articles:

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.