10 Jul 2017 12:25
PJSC MAGNIT - Launch of Pharmacy ProjectPJSC MAGNIT - Launch of Pharmacy Project
PR Newswire
London, July 10
Press Release
Krasnodar
July 10, 2017
Magnit Has Opened Four Test Pharmacies
Krasnodar, July 10, 2017: Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT) announces the launch of the pharmacy project.
Please be informed that the Company has opened four test pharmacies “Magnit Apteka” in Krasnodar in its convenience stores and hypermarkets. The format offers low prices, high demand assortment, advanced and efficient store organization.
Average assortment consists of over 3,500 SKUs. Together with pharmaceutical goods the store offers skin care, beauty and sanitary products, nutrition, medical devices, seasonal products.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 |
| Investor Relations Office | MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department press@magnit.ru |
Company description:
Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2017, Magnit operated 35 distribution centers and 14,089 stores (10,540 convenience, 427 hypermarkets and 3,122 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2016, Magnit had revenues of RUB 1,075 billion and an EBITDA of RUB 108 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
MGNT.L (MGNT)