OREANDA-NEWS. November 11, 2010. DIXY Group – one of the leading food and FMCG retailers in Russian Federation – has announced revenue growth of 17.0% in Russian rubles (25.6% in USD) for the nine months of 2010 over the same period last year.

DIXY Group’s total revenue for the nine months of 2010 amounted to RUR 46,358 million, representing a 17.0% increase over RUR 39,619 million for the same period of 2009. In USD terms revenue increased by 25.6% to 1,532 million, compared to USD 1,220 million for the nine months of 2009.

Retail revenue from DIXY stores for the nine months of 2010 amounted to RUR 39,009 million (USD 1,289 million), which represents a 17.9% growth in RUR (26.6% in USD) over the same period of 2009.

Retail revenue from Megamart stores for the nine months of 2010 amounted to RUR 5,202 million (USD 172 million), which represents a 16.0% growth in RUR (24.6% in USD) over the same period of 2009.

Retail revenue from Minimart stores for the nine months of 2010 amounted to RUR 1,596 million (USD 53 million), which represents a 8.1% growth in RUR (16.1% in USD) over the same period of 2009.

Revenue from other activities, such as marketing revenue, sublease income and wholesale revenue amounted to RUR 551 million (USD 18 million).

The following exchange rates were used for converting Russian Rubles to US dollars:

Exchange Rate according to CBR

2009

2010

 

Average (7 months), RUR/USD

32.4814

30.2538

 

As of

30 September 2010

30 September 2009

Growth

Number of Stores

595

509

17%

Net Selling Space (sq.m.)

218,088

195,377

12%

For the nine months period ending

30 September 2010

30 September 2009

Growth

Revenue (RUR)

46,358 million

39,619 million

17.0%

Revenue (USD)

1,532 million

1,220 million

25.6%

Store Openings

71

38

87%

DIXY

71

37

92%

Megamart

0

1

--

Minimart

0

0

--

LFL Sales in RUR for nine months 2010

For the purposes of internal reporting and planning the Company includes in like-for-like store base only stores which were opened twelve months before the beginning of the comparison period, thus giving the stores time to achieve maturity (one year maturity period). The Company includes in this base stores opened before 01.01.08. The Company views this calculation as the most conservative and prudent, as it reflects the performance of the mature stores.

For the purposes of comparison of our results with those published by our peers in Russia, we also present like-for-like calculation that includes stores that were open before 01.09.09. This calculation the Company views as less conservative than the previous one since it takes into the account the sales of stores that are still maturing.