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Magnit attracts profits

This article was originally published in Foodnews

RUSSIAN retail chain, Magnit, has recorded a solid 2011 with net profits up 20% to RUB12.2 (USD415 million). EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped 43% to RUB27.5 billion. During the year, the company added 1 254 stores, including 1 004 convenience stores and 42 hypermarkets, as well as 208 cosmetics stores.




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