Dixy posts 9M 2010 net loss of 37.3 million roubles

Russian grocery retailer, Dixy, has posted a 9M 2010 net loss of 37.3 million roubles under IFRS.

The net loss compares a 9M 2009 net loss of 101.9 million roubles, with 9M EBITDA rising 8.9% year on year to 2.29 billion roubles, as revenue rose 17% year on year to 43.36 billion roubles.Dixy says the results reflect an ongoing turnaround with the company achieving 9M like for like sales growth of 5.5% year on year, as the company added 71 new stores, against a net foreign exchange loss of 105 million roubles.