Magnit, Russia’s biggest retailer in the number of stores, is changing its policy of power supply.
It has set up its own energy company, MagnitEnergo, that will save the FMCG giant some 200-240 million roubles annually.
This is touted as an unprecedented move for the Russian retail industry, and experts agree it is a bold yet a smart choice.
Magnit’s full-year net earnings rose 92 percent in 2012, totaling $804 million, according to its official unaudited data.
Author: Mikhail Vesely