Seventh Continent said earlier in the month its net profit, calculated to Russian Accounting Standards for the period, had climbed 80%, year-on-year, to 978.4 million rubles ($36.5 million).
The company's IFRS earnings in the reporting period reached $450.6 mln, up 37% on the same period in 2006 ($328.4 mln). EBITDA climbed 68%, to $53.8 mln, from $31.1 mln in 1H05, while gross profit increased 32.7%, to $140.7 mln. Operating profit expanded 60%, year-on-year to $40.2 mln.
During the first six months of 2006, 44.2 million purchases were made in the company's supermarkets and hypermarkets, and nine new stores were opened - two hypermarkets in Moscow and St. Petersburg, and seven supermarkets in Moscow and the Moscow Region.
On April 12, the company made an additional share issue, placing 10.48 mln common shares (14% of shareholders' capital), boosting the number of shares in free float to 25.2% of shareholders' capital. Revenue from share issues exceeded $238 mln.
The Seventh Continent retail network unites 120 stores and several hypermarkets, mainly in Moscow.
