Swedish supermarket chain ICA posted a 30% jump in third-quarter profits today (13 November), a figure boosted by the consolidation of the Rimi Baltics stores into the business.
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Third-quarter operating profit reached SEK899m (US$141.3m), compared to SEK690m a year ago.
Group turnover jumped to SEK20.6bn, a rise of 21.1%, but the rise falls sharply to 5.8% when Rimi’s turnover is excluded.
ICA is 40% owned by Stockholm-bourse listed company Hakon Invest; Dutch retail giant Ahold is the majority shareholder.
“With a restructured organisation and a strong financial position behind us, we now have a really good chance to work progressively and to keep creating profitable growth,” said ICA chairman Kenneth Bengtsson.
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