UPDATE: Lenta swings to 16.5 bln rbl IFRS net profit in 2020

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MOSCOW, Feb 24 (PRIME) -- Russian retailer Lenta posted a 16.541 billion ruble net profit in 2020 against a 2.794 billion ruble net loss in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Wednesday.

Revenue rose 6.7% to 445.544 billion rubles.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 13.7% to 44.919 billion rubles. Gross profit rose 10.6% to 101.816 billion rubles, and operating profit more than tripled to 29.286 billion rubles.

The company’s total debt decreased 37.9% in 2020 to 113.394 billion rubles as of December 31, while net debt fell 16.2% to 91.585 billion rubles.

(73.9833 rubles – U.S. $1)

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