Sedmoi Kontinent reports weak H1

Sedmoi Kontinent has reported RUB23,753 million (USD682 million) H1 revenue, up 13% in rouble terms year-on-year. Like-for-like sales grew 4.8%, driven by traffic growth of 1.7% and average ticket growth of 3.1%. During the period, the retailer opened two supermarkets and one hypermarket. It closed two supermarkets and one hypermarket due to poor performance.