MOSCOW: Russian food retailer O'Key is expected to report a rise of nearly 34 percent in first-half net profit, compared to the year-ago period when it was hit by the closure of hypermarkets following a fatal accident at one of its stores.
First-half net profit is seen rising to 1.5 billion roubles ($47.31 million) from 1.1 billion roubles a year ago, also helped by new openings, a Reuters poll showed on Wednesday.
O'Key is also expected to deliver 40.3 percent growth in earnings before interest, taxation, depreciation and amortisation (EBITDA), with an EBITDA margin rising to 7.2 percent from 6.5 percent, the poll showed.
A roof collapse at one of O'Key's St Petersburg stores that killed at least one in January 2011 led to a temporary closure of many of its hypermarkets, weighing on last year's sales and earnings numbers.
Analysts said that during a conference call they would focus on management comments on meeting its store opening schedule and whether the full-year 2012 result guidance was intact.
The company earlier guided for 25-30 percent revenue growth, a 7 percent rise in like-for-like sales and an EBITDA margin of 8 percent.
Comments
Comments are closed.