Russian retailer O’Key has booked an increase in first-half earnings, boosted by increased store numbers.

In the six months to the end of June, net profit reached RUB1.61bn (US$48.4m), a 9.5% increase on the prior year period, the retailer reported today (30 August). Operating profit climbed 11% RUB3.02bn.

Sales amounted to RUB64.17bn, a 19.6% improvement on last year. The retailer opened three stores in the period and now operates 85.

Click here to view the full earnings release.