OREANDA-NEWS. On May 18, 2007 OJSC "Magnit" (the “Company”; RTS: MGNT), Russia’s leading retail chain in terms of number of stores and customers, released its 4M07 results, reported the press-centre of  OJSC "Magnit".


During 4M07 the Company opened 66 stores (net) with its total store base reaching 1 959 stores at the end of this period. Preliminary consolidated net revenue in 4M07
increased by 47,31% in ruble terms (compared to 4M06) and stood at 27 746,71 million rubles. Net sales in dollars increased by 57,26% YoY and stood at USD
1 059,69 million.


Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company “Magnit” is a holding company for a group of entities that operate in the retail trade
under the “Magnit” name. The chain of “Magnit” stores is one of the leading operators in the Russian food retail market. As of December 31, 2006 the chain consisted of
1 893 convenience stores in more than 600 locations of Russian Federation. Approximately two-thirds of the Company’s stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North West and Urals regions.

The Company operates an in-house logistics system consisting of 6 modern distribution centers, employing automated stock replenishment systems and a fleet of over
700 vehicles. In accordance with the audited IFRS consolidated financial statements, in the year ended December 31, 2006, the Company posted consolidated revenues of
approximately 2 505 million USD and a consolidated EBITDA of around 123 million USD.