Russian grocery retail chain Perekryostok has posted a 55% increase in sales to US$467m for the first half of 2005.

The company’s net profit for the first half increased 11.2% to $15m compared to the same period of the previous year, reported Reuters.

Perekryostok said it expected full-year 2005 revenues to be around $1.2bn, compared to $660m for full-year 2004.