Russian electronics retailer M.Video reports 13% rise in first-half volumes

MOSCOW : Russian consumer electronics retailer M.Video-Eldorado said on Monday that its gross merchandise value (GMV), a measure of transaction volumes, rose 13 per cent in the first half of 2024 from a year earlier to 247 billion roubles ($2.7 billion).
First-half revenue also increased by 13 per cent to 202 billion roubles compared with the year-ago period and gross profit increased by 6 per cent to 41.6 billion roubles, the company said.
Core earnings dropped slightly to 6.5 billion roubles, the company said, in what CEO Sergei Li described as a challenging macroeconomic environment with demand in the consumer electronics market cooling.
($1 = 91.4000 roubles)