FINLAND: Kesko's food profits jump in Q3
Kesko's profit jumped in Q3
Finnish retailer Kesko today (26 October) posted an almost 40% jump in operating profit from its food division during the third quarter of the year.
For the quarter ended 30 September, operating profit excluding non-recurring items in its food division reached EUR49.5m (US$68.9m), a rise of 39.8% on the year.
The division's sales grew 2.1% to EUR986m; grocery sales in its K-food stores increased by 3.8%.
Kesko's total operating profit excluding non-recurring items was EUR88.7m, up from EUR 47.6m a year earlier.
Net sales were up 4.6% on the same quarter of last year to EUR2.3bn, driven by growth in its food, building and home improvement and car and machinery trade divisions.
Finnish grocery retailer Kesko has revealed plans to launch a hypermarket format in Russia....
Continued growth from Kesko's grocery retail business failed to offset falling profits from its DIY chain in the fourth quarter of 2010, the Finnish company reported today (3 February)....
- Wessanen's move for Spain's Biogran - analysis
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- Tyson sets up US$150m investment fund
- Chobani COO Burns to leave yogurt firm
- How Brands Are Making Our Food Healthier
- Confectionery North America (NAFTA) Industry Guide_2016
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020
- Frozen Food Production in the US - Industry Market Research Report