Seventh Continents H107 RAS net profit remained flat.

In the first half of 2007 Seventh Continents net profit compiled under RAS remained virtually unchanged against the same period a year ago, totaling Rub 970 mln vs. Rub 978 mln. Sales grew 8% to Rub 13,185 mln from Rub 12,218 mln, gross profit jumped 4% to Rub 3.87 bln from Rub 3.72 bln, operating profit sank 30% to Rub 909 mln compared to Rub 1,285 mln in January-June 2006. Pre-tax profit remained flat at Rub 1,319 mln against Rub 1,317 mln. Payables were cut from Rub 3.1 bln to Rub 3.1 bln. Long-term obligations soared to Rub 7 bln from Rub 50 mln as of the beginning of the reporting period. Short-term receivables reached Rub 724 mln vs. Rub 516 mln and long-term receivables totaled Rub 724 mln, up from Rub 516 mln, and long-term receivables rose to Rub 169 mln from Rub 151 mln as of January 1, 2007. As of July 1, 2007 the companys retail network consisted of 125 stores, including 119 supermarkets and 6 hypermarkets.

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[Source: Russian Stock Market Blog]