News
24 октября 2008
Net profit of City.com increases almost four-fold in nine months of 2008
The chain of City.com hypermarkets in the third quarter of 2008 demonstrated steady growth and proved to be a reliable financial partner. The chain’s financial indicators improved, it repurchased and refloated its series B bonds, and it also redeemed its series A bond coupons.
According to the results of the first nine months of 2008, the chain of City.com hypermarkets significantly improved its financial indicators. Compared to the same period of the previous year, sales proceeds increased by 51% (UAH 481.644 million for the nine months of 2008 versus [UAH 318.954 million for the first nine months of 2007), and the company’s net profit ([UAH 401.087 million versus UAH 265.096 million).
The gross profit also increased by 60% (from UAH 48.340 million for the first nine months of 2007 compared to [UAH 77.206 million for the first nine months of 2008).
The chain’s net profit for the indicated period increased almost four-fold, or to UAH 4.795 million compared to UAH 1.296 million for the first nine months of 2007.
EBITDA profitability also increased by 1.8 points (8.82% for the first nine months of 2008 versus 7.02% for the same period of 2007).
The company was efficient at servicing its bonded debt, which is evidence of a positive trend. In August this year, a part of the company’s corporate series B bonds were presented for redemption to it for an overall amount of UAH 34 million. City.com repurchased the presented bonds in due time and in full. A part of the repurchased bonds were refloated for the amount of UAH 10 million.
In October, the company redeemed the series A bonds’ quarter coupon in the amount of UAH 1.87 million. And as of today, City.com is ready to redeem the series B bonds’ quarter coupon totaling UAH 1.4 million; this payment will be made on October 31, 2008.
In the first nine months of 2008, the chain of City.com stores expanded with new hypermarkets in Odesa (a second hypermarket in this city) and in Donetsk (a second hypermarket). Moreover, City.com hypermarkets in Dnipropetrovsk, Donetsk, Kryviy Rih and Zaporizhya were restyled completely.
According to the results of the first nine months of 2008, the chain of City.com hypermarkets significantly improved its financial indicators. Compared to the same period of the previous year, sales proceeds increased by 51% (UAH 481.644 million for the nine months of 2008 versus [UAH 318.954 million for the first nine months of 2007), and the company’s net profit ([UAH 401.087 million versus UAH 265.096 million).
The gross profit also increased by 60% (from UAH 48.340 million for the first nine months of 2007 compared to [UAH 77.206 million for the first nine months of 2008).
The chain’s net profit for the indicated period increased almost four-fold, or to UAH 4.795 million compared to UAH 1.296 million for the first nine months of 2007.
EBITDA profitability also increased by 1.8 points (8.82% for the first nine months of 2008 versus 7.02% for the same period of 2007).
The company was efficient at servicing its bonded debt, which is evidence of a positive trend. In August this year, a part of the company’s corporate series B bonds were presented for redemption to it for an overall amount of UAH 34 million. City.com repurchased the presented bonds in due time and in full. A part of the repurchased bonds were refloated for the amount of UAH 10 million.
In October, the company redeemed the series A bonds’ quarter coupon in the amount of UAH 1.87 million. And as of today, City.com is ready to redeem the series B bonds’ quarter coupon totaling UAH 1.4 million; this payment will be made on October 31, 2008.
In the first nine months of 2008, the chain of City.com stores expanded with new hypermarkets in Odesa (a second hypermarket in this city) and in Donetsk (a second hypermarket). Moreover, City.com hypermarkets in Dnipropetrovsk, Donetsk, Kryviy Rih and Zaporizhya were restyled completely.