MKS to Lift Turnover 39% in 2008

According to Interfax, MKS, the electronics retailer operated by Ekvin (KVIN: BUY), announced plans to increase retail turnover 39% yoy to USD 297 mln in 2007. The company’s chairman, Oleh Mashkov, said that it is targeting keeping its EBITDA margin around 5.0%. Moreover, the company plans to expand its retail chain by 30% by opening 20 new stores over the course of the year. PC sales are planned to rise 25% yoy to 75 ths in 2008. In other news, MKS’s net income turned positive to USD 2.4 mln in 2007 from about negative USD 2.0 mln. Sales surged 54% yoy and amounted to USD 214 mln, while its EBITDA tripled to USD 9.1 mln in 2007.