Seventh Continent, one of Russia's biggest grocery store chains, increased its audited 2009 net profit to International Financial Reporting Standards by 1.7 percent to 1.2 billion rubles ($40 million) compared with the same period in 2008, the company said on Monday.
Revenue grew by 11.8 percent to 44.59 billion rubles ($1.5 billion).
The company's gross profit slipped 0.8 percent to $11.7 billion, gross profit margin amounting to 26 percent against 29.7 percent in 2008. However, the retailer's operational profit increased 7.6 percent year-on-year amounting to $2.98 billion.
Seventh Continent's Earnings Before Interest, Taxation, Depreciation and Amortisation grew in 2009 by 2.5 percent year-on-year, amounting to 4.1 billion rubles ($135.3 million), whilst the EBITDA margin stood at 9.2 percent against 10 percent year-on-year.
The company's long-term liabilities as of December 2009 amounted to 4.478 billion rubles ($147.7 million) against 5 billion rubles ($165 million) year-on-year, while short-term liabilities amounted to 14.38 billion rubles ($474.4 million) against 17.17 billion rubles ($566.5 million) year-on-year. Short-term loans fell to 4.83 billion rubles ($159.3 million) from 8.7 billion rubles ($287 million) as of the end of 2008.
In March 2010, the retail chain owned 140 stores. Its core shareholder is Alexander Zanadvorov, who owns a 74.81 percent stake via Pakwa Investments.
MOSCOW, July 26 (RIA Novosti)
