Net profits at Russian retail giant X5 dropped considerably in the first half of the year, falling 20.6 per cent to US$135.2m, with net profit margins down to 1.7 per cent from 2.2 per cent last year.
According to the group, net sales climbed in rouble terms, up to Rb241bn, but dropped 0.1 per cent in US dollar terms to US$859m.
Gross profits remained virtually unchanged at US$1.8bn, while earnings before interest, taxation, depreciation and amortisation dropped 2.1 per cent to US$554m.
