Russia's Ozon widens loss but transactions surge continues; boosts guidance

By Reuters

Russian online retailer Ozon on Tuesday reported a widening loss in core earnings in the second quarter, but raised its full-year guidance for turnover on its platform amid continued explosive growth. Ozon's adjusted loss before interest, tax, depreciation and amortisation (EBITDA) widened to 9.1 billion roubles ($123.93 million) from a loss of 1.8 billion roubles a year ago, the company said. Ozon, which debuted on the Nasdaq late last year and uses couriers, pickup points and parcel lockers to run one of Russia's largest e-commerce platforms, said this was down to strategic investments as it seeks to scale and increase market share.

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