July 27, 2012

Russian retailer Dixy Group posts 89.5% surge in H1 revenue

Russian food products retailer Dixy Group has reported an 89.5% growth in consolidated revenue to RUB70.9bn for the first six months (H1) of 2012, compared to the same period last year.

By admin-demo

Russian food products retailer Dixy Group has reported an 89.5% growth in consolidated revenue to RUB70.9bn for the first six months (H1) of 2012, compared to the same period last year.

Total group revenue for the January-June 2012 period increased 20.7% year-on-year on pro-forma basis, including Victoria Group revenue from the beginning of FY2011.

During the same period, retail revenue from neighbourhood stores advanced 71.9% to RUB55.3bn ($1.8bn) based on consolidated statements.

The retailer said the growth was driven mainly by DIXY neighbourhood stores retail revenue, which increased to RUB43.3bn ($1.4bn) by 34.6%.

Retail revenue from ex-Victoria’s neighbourhood stores Kvartal/Deshevo/Semeynaya Kopilka amounted to RUB12bn ($391.1m) in the six months to June, a decrease of 14.1% from a year ago period.

The company said this decline in retail revenue was caused by the integration of Kvartal/Deshevo/Semeynaya Kopilka stores into DIXY Group.

Retail revenue from supermarkets soared 690.4% to RUB9.2bn ($301.5m) during the reporting period, driven mainly by Victoria supermarkets retail revenue, which amounted to RUB7.9bn ($258.1m) and demonstrated a 21.1% growth.

Minimart supermarkets retail revenue increased 13.8% to RUB1.3bn ($43.4m), while retail revenue from Megamart hypermarkets surged 35.5% to RUB5.2bn ($168.7m).

Retail revenue from cash & carry store, CASH, amounted to RUB455.5m ($14.9m), demonstrating a decrease of 2.8% from a year ago period.

As of 30 June 2012, the group operated 1,276 stores, including 1,036 DIXY neighbourhood stores, 186 neighbourhood stores under Kvartal, Deshevo, Semeynaya Kopilka brands, 25 Victoria supermarkets, 18 Megamart stores, ten Minimart supermarkets and one CASH store.

The Moscow-base retailer, with a total 442,516m² of selling space, operates in Central, Northwest and Urals federal districts of Russia, and in Kaliningrad region.