OREANDA-NEWS. March 05, 2008. Retail operator Seventh Continent boosted its gross retail sales by 29% y/y to USD 131mn in January 2008. Accounting standards used were not provided, reported the press-centre of Seventh Continent.

Seventh Continent was founded in 1994 and up to date operates 128 stores, including 122 supermarkets and 6 hypermarkets with a total trading area of 148,400m 2 (up by 9% y/y). The company's major shareholders, Aleksandr Zanadvorov and Vladimir Gruzdev, together have 74,8% stake in Seventh Continent.

The rest is floated freely. Seventh Continent's sales made up USD 1,405bn in 2007, up by 32% y/y. Its net profit surged by 61% y/y to USD 51,2mn in H1/07.