Support The Moscow Times!

Dixy Profit Up 9%

Russia's third-largest food retailer Dixy Group said on Thursday that its first-quarter net profit rose 9 percent year on year to 386 million rubles ($12 million).

The earnings growth was held back by a 53-percent jump in finance costs due to increased debt level as well as higher depreciation expenses, the company said.

Its earnings before interest, taxation, depreciation and amortization increased 24 percent year on year to 2.6 billion rubles, giving a 6.2-percent margin, compared to 6.1 percent the year earlier.

(Reuters)

Read more

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

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.