The Russian retailer X5 Retail Group N.V. which owns the Russian grocery chains Pyaterochka and Perekrestok, recorded an increase in net profit of 1.2 per cent to US$103mn in 2006. Calculated under International Financial Reporting Standards (IFRS), X5 Retail Group released its 2006 pro forma figures via a company statement today.

Group sales grew 49.6 per cent to US$3,551 million in 2006, EBITDA increased 31 per cent to US$295mn, and pretax profit soared 63.8 per cent to US$990 million. X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of 31 March 2007, the Group had 512 company-managed "Pyaterochka" soft discount stores located in the Moscow (232), St. Petersburg (215) and other Russian areas (65), and 169 company-managed "Perekrestok" supermarkets across Central Russia and Ukraine, including 99 stores in Moscow.