Forecast: Russia’s X5 to outperform Magnit by revenue in Q4

MOSCOW, Jan 23 (PRIME) – October-December revenue of one of Russia’s biggest grocery retailers X5 Retail Group, the owner of Pyaterochka, Perekryostok and Karusel chains, may beat revenue of the country’s top retailer by sales Magnit, analysts told PRIME on Monday.

X5 plans to publish its results for the fourth quarter and the whole 2016 on Tuesday.

VTB Capital projects X5’s net sales to rise 29% on the year to 294.783 billion rubles in October-December, Alpha Bank expects a 24% advance to 283.6 billion rubles, while JP Morgan’s forecast is a rise of 27.7% to 291.739 billion rubles.

In annual revenue terms, X5 is likely to remain second in the industry.

(59. 6697 rubles – U.S. $1)

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