Lenta Profit Up 32% in 2011

Retailer Lenta's net profit jumped 31.7 percent to 3.82 billion rubles in 2011, Interfax reported Tuesday.

Lenta posted revenue of 98.38 billion rubles ($3.01 billion), up 29.05 percent on the year, under Russian Accounting Standards.

Sales costs increased 27.6 percent to 82.23 billion rubles, while gross profit climbed 37 percent to 16.15 billion rubles, and commercial expenses rose to 15.11 billion rubles from 11.77 billion rubles. Lenta manages the chain of Lenta hypermarkets. It has reported on its website that there are 46 Lenta stores, of which 15 are in St. Petersburg and five in Novosibirsk.

(MT)

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