OREANDA-NEWS. OJSC “Magnit”, Russia's largest food retailer (the “Company”; MICEX and LSE: MGNT) announces 30.48% retail sales growth in rubles for April 2014.

During April 2014 the Company opened (net) 87 stores. The total store base reached 8,343 stores (7,410 convenience stores, 167 hypermarkets, 50 “Magnit Family” stores and 716 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2014 increased by 26.38% in ruble terms (compared to 4M 2013) and stood at 223,676.42 million rubles.

Please note that the high sales growth rate for the month of April 2014 compared to April 2013 is partially due to the fact that the Easter holiday period occurred in April this year, while last year it occurred in May. Therefore, expectations for the May sales growth rate should also be adjusted accordingly.

According to Rosstat food inflation in April 2014 amounted to 1.3% compared to 0.7% in April 2013, in 4M 2014 5.4% compared to 3.7% in 4M 2013.