Companies@UA: База компаний Украины

Kyiv, August 3 (Interfax-Ukraine) – Kyiv-based Foxtrot Group last fiscal year ending on March 31, 2009 earned a consolidated income from sales of goods and services of $912.328 million, which represents a 36.3% rise year-over-year, the group's managing company has told Interfax-Ukraine, referring to preliminary data.

The group's net consolidated profit last fiscal year was tentatively estimated at $2.823 million. The similar indicator for the previous fiscal year was not disclosed.

The group's consolidated debt as of March 31, 2009 came to $71.975 million, a 34.5% rise year-over-year.

"When the operational business required active investment, we expanded our credit portfolio. As of March 31, 2008, the Foxtrot Group's consolidated debt was estimated at $53.499 million and had been growing in response of the company's needs until fall 2008. Since the start of 2009, we have started gradually cutting our debt to the banks, understanding the importance of the implementation of our commitments to them. As of March 31, 2009, our consolidated debt came to $71.975 million," said Foxtrot managing company's director general, Volodymyr Shulmeister.

"Our advantage is that the ratio of borrowed and our own funds is in favor of our own funds, and in this we differ from other companies with a lot of debt. Taking into account the situation on the market, I believe that the financial state of Foxtrot Group is stable," he said.

He said he was optimistic about the prospects of the current fiscal year.

"In early 2009, the situation on the market stabilized and became predictable... Our proposals and calculations are realized with a rather high likelihood ratio, which allows us to plan our operations. This is an encouraging trend for the new fiscal year," he said.

The company's expert said that in 2009 the household appliances and electronics market in Ukraine is estimated to be worth over UAH 35 billion.

In turn, Foxtrot Home Appliances CEO Oleksiy Pavlenko said that last fiscal year the company opened and restyled 58 stores of 442,000 square meters in 18 regional and district centers and four stores in Moldova.

At present, Foxtrot Group consists of 267 stores located in Ukraine and Moldova, in particular, 199 Foxtrot Home Appliances supermarkets, 34 FoxMart hypermarkets, four Foxtrot Digital Appliances and 30 Tekhnoshara stock centers.

As reported, Foxtrot Home Appliances (Kyiv) increased its turnover by 12% in the fiscal year ending on March 31, 2009 compared to the previous fiscal year, to UAH 6 billion.

Foxtrot Group is also developing the Sekunda and Montres chains. DEPOT Development Group has been part of the group since 2008, the core business of which is real estate management.

The co-founders of the group are Valeriy Makovetsky and Hennadiy Vykhodtsev.

VOLUME OF PRODUCTS SOLD IN UKRAINE IN JANUARY-JUNE 2009

©Source: State Statistics Committee

The data are generated according to a functional principle (homogeneous products) not including products sold by customer enterprises on the basis of short-term statistical reporting provided by large, middle and small enterprises producing a significant volume of commodities.