OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT) announces 33.17% retail sales growth in rubles for November 2014.

During November 2014 the Company opened (net) 304 stores. The total store base reached 9,507 stores (8,233 convenience stores, 181 hypermarkets, 78 "Magnit Family" stores and 1,015 drogerie stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 11M 2014 increased by 30.91% in ruble terms (compared to 11M 2013) and stood at 675,365.44 million rubles.

Please note that starting in 2013 Magnit made an effort to smooth out the schedule of new store openings and decided to close the development year at the end of November. Thus, the large number of store openings in November 2013 created a high base-effect, which resulted in lower sales growth numbers for November 2014.

According to Rosstat food inflation in November 2014 amounted to 2.0% compared to 0.9% in November 2013, in 11M 2014 11.8% compared to 6.5% in 11M 2013.