O'K takes off in trading after strong report

O'Kay's GDRs were up 23.5% at the opening, with the retailer showing retail revenue growth of 11.5% year-on-year in Q2, amounting to 49.562 billion rubles.

Revenue from O'Kay hypermarkets decreased by 1.7%, to 35.414 billion rubles, while revenue from discounters "Yes!" - increased by 68.5% to 14.148 billion rubles, the company said.

The Lfl-sales of the group increased by 4% due to the growth of the average check by 7.2%, which was partly compensated by the 3% decrease in the customer traffic.

However, hypermarkets' Lfl revenue decreased by 3.8% due to an 11.5% drop in traffic, which was not fully compensated by an 8.8% increase in the average check.