X5 Retail Group, Russia's largest grocery retailer, has announced that it turned in a net profit of US$12.1m (€9.4m) for the third quarter of 2012, bouncing back from the loss of US$2.1m (€1.6m) recorded in the same period last year.
Profit grew despite a slight drop in net sales year-on-year, down to US$3.61bn (€2.8bn) from US$3.62bn (€2.83bn) last year, the group revealed.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) remained stable at US$219.9m (€172m), with EBITA margin similarly flat at 6.1 per cent, Reuters reported.
In October, the retailer reduced its full-year sales growth forecast to 7-9 per cent.
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