Lenta cuts 2017 capex forecast to 30–35 bln rbl from 40 bln rbl

MOSCOW, Apr 20 (PRIME) -- Russian retailer Lenta has reduced the estimate of its capital expenditures in 2017 to 30–35 billion rubles from 40 billion rubles, the company said in a statement on Thursday.

“The company has revised the program of store launches in 2018 and has decided to postpone some preliminary investment in stores in 2018 to the first half of 2018 from the second half of 2017,” the company said.

Lenta said that the number of stores to be launched in 2018 has not changed but the plan for launches for July–December 2018 will rise.

(56.1753 rubles – U.S. $1)

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