January 10, 2013 / 7:28 AM / 5 years ago

Russia's Magnit 2012 sales grow, beat its forecast

MOSCOW, Jan 10 (Reuters) - Fast-growing Russian retailer Magnit said on Thursday that sales grew 33.6 percent last year, beating its forecasts, while it opened over 1,500 stores during the year.

Magnit was targeting sales growth of 30-32 percent for the year in rouble terms.

December sales grew 34.6 percent, year-on-year, to 51.8 billion roubles ($1.7 billion), matching the 35 percent increase recorded in November.

The company now has 6,884 stores, up from 5,309 a year ago. ($1 = 30.8156 Russian roubles) (Reporting By Megan Davies)

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