X5 in the III quarter reduced net profit by 72,3%, to 2,2 billion rubles

Net profit of X5 Retail (MOEX: FIVE) Group in the III quarter 2019 decreased for 72,3% in comparison with a last year's indicator, to 2,238 billion rubles, company reported. EBITDA of the retailer grew by 3,5%, to 28,645 billion rubles, profitability of this indicator made 6,8% in comparison with 7,4% year before. Results of X5 were slightly worse consensus forecast of information agency "Interfaks" (he assumed decrease in net profit to 2,96 billion rubles, EBITDA growth to 29,297 billion rubles and profitability of EBITDA at the level of 6,9%). Decrease in net profit of X5 happened against transformation of its network of hypermarkets...