Swedish food wholesaler and retailer Axfood has posted higher sales and earnings for the first half of 2010.
Axfood yesterday (15 July) reported a 4.5% increase in consolidated sales to SEK8.58bn (US$1.17bn).
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Retail sales in its 230 company-owned stores increased marginally by 0.7% over the period, although like-for-like sales dropped 1.9%.
The company posted SEK199m profit after tax for the period against SEK190m for the first half of 2009.
Operating profit increased from SEK269m a year earlier to SEK279m in the first half of 2010.
However, Axfood set out a cautious forecast for the full year and said it is hoping to achieve operating profit “at least at the same level” for 2010 as it booked for 2009.
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By GlobalDataAxfood recently entered a wholesale agreement with 7-Eleven operator Reitan to supply its outlets.
