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X5 Retail profit jumps on increase digital sales, expansion of retail space
StockMarketWire.com
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Food retailer X5 Retail reported a jump in annual profit as the revenue was bolstered by a strong digital sales and the expansion of its retail footprint.
For 2020, pre-tx profit rose 31.6% RUB 45,670 million from RUB 34,698 million as revenue rose 4.1% year-on-year, driven by selling space expansion and ongoing store refurbishments.
Digital business - Perekrestok Vprok, express delivery and 5Post - net sales rose 362.2% y-o-y to RUB 20.1 billion.
X5 Retail continued to grow its market share, up to 12.8% in 2020 versus 11.5% in 2019.
Story provided by StockMarketWire.com
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