Quarterly profit of X5 Retail Group increased by a quarter

Net profit of X5 Retail Group in the first quarter of 2016 amounted to 5,054 billion roubles that on 23% more than in January—March 2015 (4,11 billion rubles), follows from the report of the company prepared in accordance with international financial reporting standards.

Revenue from stores controlled by X5 retail networks for the quarter increased by 26.8% — from 182,725 billion rubles to 231,611 billion rubles. While the highest increase in revenue showed the stores operating under the brand “Pyaterochka” — the total revenue of the network on an annual basis, rose by 32.3% (to 171,369 bn).

The rapid growth of total revenues in X5 tied with an increase of retail space during the quarter, the total area of shops “Pyaterochka”, “Perekrestok”, “Karusel” and “Express” were up 5.4% for the year (from March 2015 to March 2016) — 31%. However, the “old” shops also managed to improve their results — their net profit increased year on year by 7.8%, the number of customers — 2%, and the average check amount by 5.8%.

For 2015 revenue of X5 Retail Group amounted to 808,818 billion rubles., net profit — 14,174 billion rubles.

Previously, the decline in net profit in the first quarter of 2016, reported “the Magnet”. In January—March 2016, the company managed to earn 8,243 billion RUB compared to 9,477 billion rubles in the first quarter of 2015. After the publication of statements “Magnet” quotes of the company’s shares on the Moscow stock exchange went down. By the end of last week, the price of shares fell to 8 825 thousand RUB., which is 14.28% below the closing level prior to reporting.

In the course of trading on Thursday on the London stock exchange the global Depositary receipts of X5 Retail Group rose 2.6%, or $0.5 per share.