Russian retailer Dixy Group revenue soars in 2011

15 May 2012 (Last Updated May 15th, 2012 07:00)

Dixy Group, a Russian retailer of foods and everyday products, has posted a whopping 59.3% increase in consolidated revenue to RUB102.3bn ($3.37bn) in 2011, compared to RUB64.23bn ($2.11bn) in the previous year.

Dixy Group

Dixy Group, a Russian retailer of foods and everyday products, has posted a whopping 59.3% increase in consolidated revenue to RUB102.3bn ($3.37bn) in 2011, compared to RUB64.23bn ($2.11bn) in the previous year.

Consolidated net profit sky rocketed 327.3% to RUB1.10bn ($36.25m) in 2011, compared to RUB258m ($8.50m) in 2010.

Operating profit jumped 104.8% to RUB3.45bn ($113.69m) from RUB1.68bn ($55.36m), while gross profit climbed 79.3% to RUB27.7bn (912.85m) in 2011, compared to RUB15.46bn ($509.48m) in the previous year.

In the fourth quarter of 2011, the retailer has reported an 87.8% growth in consolidated revenues to RUB34.04bn ($1.12bn), compared to RUB18.13bn ($597.47m) in the same period a year ago.

Consolidated net profit rose 6.8% to RUB315m ($10.38m) in the fourth quarter, compared to RUB295m ($9.72m) in the same quarter a year earlier.

During the quarter, operating profit advanced 74.4% to RUB1.18bn ($38.88m) from RUB678m ($22.34m), while gross profit surged 107.9% to RUB9.72bn ($320.32m) from RUB4.67bn ($153.89m).

In 2011, the combined company opened 255 new stores, having increased pro-forma selling space by 15% year-on-year, while Dixy Group standalone selling space grew 25%.

The group opened new stores in the Central, Northwest and Urals Federal Districts through long-term lease agreements, except for 12 acquired stores.

As of full year end all 37 Kvartal stores in the Northwest region were successfully rebranded into Dixy format.

As of 31 December 2011, the company operated 1,119 stores, which comprise of Dixy, Kvartal, Deshevo and Kopilka neighborhood stores; Victoria and Minimart supermarkets; and Megamart hypermarkets.

Image: During full-year 2011, the group opened 255 new stores, increasing the pro-forma selling space by 15% on an annual basis. Photo: Dixy Group