Russian grocery retailer Magnit today (11 January) booked an increase in full-year sales.

Sales for the 12-month period, ended 31 December, climbed 39.2% to RUB236.14bn (US$7.71bn). Like-for-like sales rose 9.2%.

Like-for-like sales in the fourth quarter increased 18.2%.

For the month of December, net retail sales rose 49.6% to reach RUB28.68bn.

In 2010, Magnit opened 4,055 stores. 4,004 of those were convenience stores and 51 were hypermarkets.

Click here to view the full earnings release.