Russian grocery retailer Lenta’s sales increased 31% in 2013; IPO in plans

Lenta, one of the major Russian grocery retailers, increased its total sales by 31.3% year on year to RUB 144.3bn (€3.03bn) in 2013, according to the company’s IFRS financial report. At the same time, the Like For Like sales grew by 10%.
In addition there was a 35% increase in the retail space of the Russian hypermarket retailer Lenta in 2013, and the company has become the most rapidly growing business in this arena among the largest grocery retailers in Russia.

At the end of last year Lenta’s retail space came to 508,000 m2 and the company had 87 stores in total. The retailer has opened 31 stores, including 10 supermarkets in Moscow and the Moscow Province. It operates 77 hypermarkets in 45 cities in Russia.
Lenta’s main shareholders are the American investment fund TPG (49.8%), the EBRD (21.5%) and VTB Capital (11.7%). In early February the retailer announced that it intended to enter the London Stock Exchange and the Moscow Exchange by means of IPOs.

Source: PMR

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>