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.

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For the company’s full earnings statement click here.