Magnit has reported unaudited financial results. Consolidated net retail revenue increased to RUB448.49bn (£9.23bn) for the financial year 2012, up 33.6% on the previous year.

Like-for-like sales grew by 8.5%, driven by 7.8% growth in basket size and a 0.6% increase in footfall.

In contrast with 2011, hypermarkets outperformed supermarkets and convenience stores.