Dixy posts FY 2010 net income of 257.7 million roubles

Russian food retailer, Dixy, has posted a FY 2010 net profit of 257.7 million roubles under IFRS.

The FY net profit compares with the FY 2009 net loss of 111.9 million roubles, with FY EBITDA rising 26.5% year on year to 3.678 billion roubles, with sales rising 19.4% to 64,799 billion roubles.The company attributed the results mainly to an increase in customer traffic along with a focus on higher levels of customer service, and more aggressive and efficient promotion and advertising activities. This enabled like for like sales growth, with the results also reflecting Dixy’s revised logistics operations.