date:Mar 10, 2014
Russia's second largest food retailer X5 has posted a full year net profit which beat forecasts.
The company recorded a net profit of $344.9 million in 2013, quite the turnaround from its $126.5 million loss posted for 2012.
Similarly, operating profit for the full fiscal calendar took a significant jump up to $794.3 million, from $191.4 million in 2012.
Full-year revenues were up 6.3% at $16.8 billion and earnings before interest, tax, depreciation and amortisation rose by 7.1% to $1.2 bill