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09:57
KVIZA TRADE'S NET PROFIT SOARS BY 2.3 TIMES IN H1

Kyiv, July 24 (Interfax-Ukraine) – Kyiv-based Kviza Trade Ltd., which manages the Ukrainian Velyka Kishenya and Moldovan Green Hills Market chains, posted a UAH 92.563 million net profit in January through June 2009, which was 2.3 times up on the same period last year.

As the company said in the information disclosure system of the State Commission for Securities and the Stock Market, its net revenues from sales in the first half of 2009 grew by 16.9%, to UAH 1.502 billion, while its gross profit climbed by almost 3%, to UAH 329.903 million.

Kviza Trade's net profit for the second quarter of 2009 alone amounted to UAH 61.217 million, which was 60.6% up on the same period last year.

The company's net profit from sales April through June 2009 was UAH 761.674 million, which was 11.6% up on April-June 2008. The company's gross profit for the second quarter amounted to UAH 168.873 million, which was 31.6% down.

Kviza Trade Ltd. earlier announced plans to give up opening new Velyka Kishenya supermarkets by the end of the current year, whereas it originally planned to open from five to 15 outlets depending on the economic situation in the country. In case of economic improvement, the company might review its plans. Then new supermarkets will occupy leased premises.

By April 1, 2009, the Velyka Kishenya chain consisted of 49 outlets whose overall trading area was 130,000 square meters in 25 cities and towns in Ukraine.

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