Okey Company News - In-line results if not for non-cash expenses
Today, Okey released neutral 1H 20 IFRS results which were in line with our expectations on revenue and EBITDA, but worse than expected on net profit. The latter was caused by a number of non-cash expenses, particularly related to the disposal of non-current assets, so we do not consider it negative.O'key Group is a Russian retailer. Co.'s principal business activity is operation of retail chain in Russia under brand name O'KEY. Co. provides customers with fresh produce (fresh foods and delicatessen products) and non-food goods (cosmetics, clothing, shoes, household cleaning products, domestic appliances, toys, sports and fitness products, etc.). Co.'s stores follow two formats: hypermarkets and supermarkets. Co. manages approximately 71 stores (42 hypermarkets and 29 supermarkets) across North Western, Southern, Central, Urals and Siberian regions.
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