Dansk Supermarked has reported a 2% increase in net profit for the first nine months of 2010.

For the nine months to 30 September, the retailer posted net profit of DKK1.36bn (US$240m).

The Netto owner said the Danish retail market had stabilised at a "largely unchanged level".

However, it said that its non-Danish markets - Germany, Poland, Sweden and the UK - showed a higher increase in consumption.

Total revenue increased 3.4% for the nine-month period to DKK43.25bn and was up 2.2% in local currency.

Dansk Supermarked added that the sale of its Netto division in the UK is not expected to be completed until the first half of 2011.

For the company's full earnings statement click here.