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Russian retailer Lenta posts turnover growth to nearly $2 bln

July 21, 2015, 11:26 UTC+3 MOSCOW
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MOSCOW, July 21. /TASS/. Turnover of the Russian retailer Lenta rose 33.8% year-on-year in the first half of 2015 and amounted to 115 bln rubles ($2 bln), the company said on Tuesday.

The like-for-like sales during that period were up 11.5%, Lenta reported.

Net profit of the company under IFRS rose 27% year-on-year in 2014 and totaled 9.1 bln rubles ($159.6 mln).

Traffic in retailer’s stores rose 4.7% in the first half of 2015 and the average check was up 6.5%, the retailer said.

Lenta to revise revenue growth outlook for 2015 

Lenta intends to revise its revenue growth outlook because of the consumer market volatility.

"Lenta decided to revise the annual revenue growth outlook of 34-38% against the background of fairly volatile behavior of consumers in the current market situation. The update decision will be made on the basis of performance in the third quarter of 2015," Lenta said.

Lenta was founded in 1993 in St. Petersburg. The retailer’s chain comprised 112 hypermarkets and 24 supermarkets as of March 31, 2015. Company’s major shareholders are TPG, EBRD and VTB Capital.

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