The revenue of X5 Retail Group, Russia’s largest retailer, increased by 43.4% to US$1,581bn in the first half of 2006, the company said in a statement released today (3 November).

The results incorporate the financial results of the Pyaterochka and Perelrestok retail chains for the period form 1 January through to 30 June.

The company reported pro-forma gross profit of US$422m, EBITDA of $162m and net profit of $80m. Gross margins totalled 26.7%.