Fix Price announces key operating results and -2-
DJ Fix Price announces key operating results and revenue for Q1 2021
Fix Price Group Ltd. (FIXP)
Fix Price announces key operating results and revenue for Q1 2021
15-Apr-2021 / 09:00 MSK
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Fix Price announces key operating results and revenue for Q1 2021
15 April 2021, Moscow - Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the
largest in Russia, today announces its revenue and key operating results for the first quarter (Q1) ended 31 March
By Reuters Staff
2 Min Read
MOSCOW, April 15 (Reuters) - Russian low-cost retailer Fix Price’s first-quarter revenue rose 29.2% to 51.7 billion roubles ($672.7 million), the company said on Thursday, in its first financial results statement since its market debut in London last month.
Fix Price raised around $2 billion in an initial public offering on the London Stock Exchange in early March, capitalising on the COVID-19 pandemic reducing Russians’ spending power.
That was the biggest Russian IPO since western sanctions were introduced in 2014.
Fix Price, which sells low-priced goods in walk-in shops and online, has now posted 17 consecutive quarters of double-digit like-for-like sales growth, Chief Executive Dmitry Kirsanov said. In the first quarter, like-for-like sales grew 11.9%.
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