Russia’s X5 posts 17.6% revenue growth in third quarter | Progresiv

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.

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 euros) for the quarter, while the EBITDA margin grew by 36 basis points to 7.4% year-on-year. (www.esmmagazine.com)