Fixed Price Group 2021 earnings, revenue increased on store expansion
By Joe Hoppe
Fix Price Group Ltd. said Monday that its 2021 pretax profit and revenue rose, driven in particular by store expansion and like-for-like growth.
The company, which operates a chain of discount variety stores, said its pre-tax profit for the year rose to 30.60 billion rubles ($364.9 million) from 26.31 billion rubles. the previous year.
Sales increased by 21% to 230.5 billion rubles, thanks to the expansion of the store network and like-for-like sales growth. The company said like-for-like sales at Russian stores not affected by the coronavirus restrictions rose 9%, while like-for-like group sales rose 7.2%.
The board declared a final dividend of RUB 6.8 per share, bringing the total dividend for the year to RUB 18.3 per share.
The company said extreme levels of market volatility and uncertainty made it difficult to present an outlook for 2022. It said it was focused on maintaining business continuity and would provide further updates on the market if necessary.
Write to Joe Hoppe at [email protected]