MKS 1H07 Sales Up 29.5% yoy
4 October 2008
One of Ukraine’s largest electronics retailers MKS (KVIN: BUY), recorded sales of USD 57.8 mln, an increase of 29.5% yoy. The company also saw its gross profits increase 41% yoy to USD 6.7 mln and net losses decrease 45% yoy to USD 891 ths. The company’s 1H07 numbers are in line with our forecasts. Given that the bulk of the company’s sales come in the 4Q (40-50% of annual sales) we expect MKS to end the year with a net income of USD 800 ths. In related news, MKS fully redeemed its USD 6 mln three-year local bond issue.
