Moscow-based supermarket chain Seventh Continent has reported a year-on-year net profit increase of 28.5% for the October to December trading period.

Calculated according to Russian Accounting Standards, the company’s profits rose to RUB442.2m (US$15.685m) during the last three months of 2005. The net profit for the quarter increased by 71% from the previous quarter, a rise the company attributed to high seasonal demand.

In January, Prime-TASS News reports, Seventh Continent said that its 2005 net profit had increased by 56% from 2004 levels, up to US$42m.