Magnit has announced that net income increased 21.7 per cent through the first quarter of the year, up to US$64.58m in dollar terms (€52.4m), as consumer spending picked up once more in the wake of the global economic downturn.
Sales at the Russian grocery retailer totalled US$1.64bn (€1.3bn), boosted by new store openings, while the group's EBITDA jumped 22.6 per cent to US$124.6m (€101m).
In fact, Magnit launched 135 new outlets in the first four months of the year, with 45 opened in April alone.
April itself saw sales increase by 32.6 per cent year-on-year in rouble terms to R17.5bn (€464m), compared with growth of 31.5 per cent in March.
