RUSSIA: Seventh Continent books robust Q1
Russian grocer Seventh Continent today (27 May) booked a jump in first-quarter sales and earnings.
Net sales climbed 32% to US$380.2m during the three months to the end of March, on the back of a 26% rise in EBITDA to $36.1m.
The rise in profits came despite rising selling costs, which grew by almost a third to $84.8m.
Seventh Continent runs hypermarkets and supermarkets across Russia, with the bulk of its stores in and around Moscow.
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