Swedish retailer Axfood today (3 February) revealed that its full-year profits were marginally down on last year, despite an increase in sales.
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Sales for the year ended 31 December rose to SEK31.7m (US$3.8m), up 8.5% from SEK29.2m. Like-for-like sales increased 4.7% and sales from group-owned stores jumped 9.6%, the company said.
However, operating profit dipped to SEK1.07m, down from SEK1.12m last year when Axfood booked a one-time gain of SEK19m.
Profit after tax totalled SEK737m, down from SEK781m, and earnings per share were SEK14.05, down from SEK14.88.
Axfood, which operates emköp, Willys, Willys hemma and PrisXtra, said that it aims to achieve an operating profit of “at least” SEK1bn in fiscal 2009.
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By GlobalData
