date:Sep 02, 2013
Russian food retailer O'Key said on Friday its first-half net profit rose 10 percent, year-on-year, helped by new stores and better purchasing terms.
Net profit came in at 1.6 billion roubles ($48.2 million) on revenue of 65 billion roubles, up 20 percent in rouble terms, O'Key said in a statement.
It said earnings growth was held back by higher costs related to expansion of its chain of hypermarkets and supermarkets and foreign exchange losses.