Expansion into Russia and store openings hit Finland-based retailer Kesko’s food profit in the first nine months of the year.

Operating profit excluding non-recurring items from its food arm were down 7.6% to EUR123.4m (US$160.5m) in the January to September period. Net sales increased 3.4% to EUR3.18bn.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The retailer said costs linked to the expansion of its store site network and launching business operations in Russia put pressure on profit. Kesko plans to open four grocery stores in Russia in the next two years.

Kesko’s group operating profit fell 21.5%, although sales climbed 3.6% to EUR7.23bn.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now