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July 24, 2013

FINLAND: Kesko records H1 profit increase

Finland-based retailer Kesko has booked an increase in food earnings in the first half.

Finland-based retailer Kesko has booked an increase in food earnings in the first half.

In the six months to the end of June, operating profit reached EUR99m compared to EUR73.3m in the prior year.

Net sales climbed to EUR2.14bn versus revenues of EUR2.10bn in the comparable period last year. 

Group pre-tax profits were up 13% to EUR93m, while operating profit was up 16.3% to EUR96.3m.

Sales, however, were down 4.2% in the period to EUR4.58bn, primarily due to weaker consumer demand particularly in the building and home improvement trade and department store trade in Finland. Domestic sales were down 3.6% and international sales dropped 6.6%.

Click here to view the full earnings release.

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