MOSCOW, Jan 27 (Reuters) - Russia’s biggest food retailer Magnit plans to open more than 2,000 new stores this year, after adding 1,618 shops in 2014, and expects revenue growth at between 26 and 32 percent, its chief executive said on Tuesday.
Sergey Galitskiy told a conference call with analysts he saw capital expenditures at around 65 billion roubles ($958.70 million) in 2015, largely unchanged from 2014. He also provided a 2015 core profit margin forecast in a 9-11 percent range.
The guidance will be narrowed after the first quarter, Galitskiy added. Magnit’s margin on the basis of earnings before interest, taxation, depreciation and amortisation stood at 11.20 percent in 2014. ($1 = 67.8000 roubles) (Reporting by Maria Kiselyova, Editing by Gabriela Baczynska)