X5 Retail Group has announced that revenue increased by 24 per cent during the third quarter of the year, up to US$2.61bn (€2bn) from the US$2.1bn (€1.6bn) recorded last year, boosted by the addition of 116 new stores.
Net income climbed by 9.1 per cent through the three-month period, X5 noted, up to US$79.6m (€60m), while earnings before interest, taxation, depreciation and amortisation (EBITDA) hit US$194m (€146m) with an EBITDA margin of 7.4 per cent.
'We are well on track to deliver on X5's 2010 sales outlook, with a recovery in consumer spending and 'trading up' trends becoming evident as we head into the end of the year,' said group CEO Lev Khasis.
As a result, X5 has reiterated its full-year 2010 outlook for net sales growth in the low-20 per cent range from US$8.7bn (€6.6bn) in 2009.
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