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April 16, 2008

SWEDEN: Axfood profits stay flat

Swedish grocer Axfood has posted flat quarterly profits for the three months to the end of March, despite sales rising 6%.

Swedish grocer Axfood has posted flat quarterly profits for the three months to the end of March, despite sales rising 6%.

The retailer behind banners including Willys and PrisXtra posted underlying operating profit of SEK240m (US$40.7m).

Earnings a year ago reached SEK258m but were boosted by a one-off charge of SEK19m.

Like-for-like sales rose 6%, Axfood said.

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