for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Russia's Seventh Continent 2007 sales rise 32 pct

MOSCOW, Jan 21 (Reuters) - Seventh Continent SCON.MM, Moscow's largest grocery chain, said on Monday its revenues jumped by 32 percent, year-on-year, to $1.4 billion in 2007.

The company said its like-for-like revenues, excluding the results of new stores, rose by 17.8 percent.

“We appreciate the results of our work in 2007. We have successfully entered new regions and strengthened the chain’s position in the Moscow market,” the firm’s general director, Galina Ilyashenko, said in a statement.

The company said its trading space expanded by 7.5 percent in 2007 to 147,000 square metres and it operated 127 stores at the end of the year, including 121 supermarkets and six hypermarkets.

The company did not provide figures for net profit and earnings before interest, taxation, depreciation and amortisation (EBITDA). (Reporting by Tanya Mosolova; Editing by David Cowell)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up