OREANDA-NEWS. August 4, 2011. Assets of OJSC "Magnit" increased by 4,650,376 thousand rubles in 2Q 2011 compared to 1Q 2011. Significant change of assets was due to proceeds received from the placement of OJSC "Magnit" bonds.

Date of fact occurrence:

August 1, 2011

Value of OJSC "Magnit" assets as of 31.03.2011

38,810,444 thousand rubles

Value of OJSC "Magnit" assets as of 30.06.2011

43,460,820 thousand rubles

Absolute change in value of assets

4,650,376 thousand rubles

Relative change in value of assets

11.98%

Net profit of OJSC "Magnit" in 1Q 2011 amounted to 427,754 thousand rubles vs. 613,104 thousand rubles loss in 2Q 2011. Decrease of the financial result was due to the loss occurred from the transaction of sale of property rights. This transaction should bring positive effect to the financial result of the OJSC "Magnit" group of companies for 6 months 2011 within consolidated statements prepared in accordance with IFRS.

Date of fact occurrence:

August 1, 2011

Net income of OJSC "Magnit" in 1Q 2011

427,754 thousand rubles

Loss of OJSC "Magnit" in 2Q 2011

-613,104 thousand rubles

Absolute change in net income

-1,040,858 thousand rubles

Relative change in net income

-243.33%