Russian food retailer Magnit has opened a new distribution centre in Novorossiysk in the Krasnodar Territory.
The total area of the plant exceeds 25 thousand square metres.
According to Magnit, the new warehouses will improve the quality of its service in the Southern region.
The retailer has 26 distribution centres, totalling 825 thousand square metres.
Magnit's net income for the first half of the year soared 34.68 per cent compared to the same period last year.
Net income for the first six months of 2014 was 19.6bn rubles (€392m).
Revenues jumped 27.93% to 349 billion rubles (€7bn) for the same period.
Sergey Galitsky, founder and chief executive of the company, owns 38.67% of the shares, and is the majority shareholder.
© 2014 - European Supermarket Magazine
To receive ESM news directly in your Inbox, send an email with subject ‘ESM news sign-up’ to [email protected].
To subscribe to ESM magazine, please email [email protected].
