Nordic supermarket group ICA posted strong quarterly and annual profits today (20 February), shrugging off a meat packaging scandal that hit the chain’s Swedish stores last autumn.
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ICA, which has 2,250 stores in the Nordic and Baltic region, is a joint venture of Dutch giant Ahold and Swedish holding company Hakon Invest.
The company saw fourth-quarter operating profit jump 113% to SEK762m (US$120.1m). Sales rose 25% to SEK22.1bn.
“ICA’s operations in Sweden, as well as the Baltic region, are going really well,” said MD Kenneth Bengtsson.
Annual operating profit rose 13.3% to SEK2.6bn on turnover of SEK82.3bn.
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By GlobalDataBengtsson said new organic products, modernisation of stores and a broader product range had all contributed to the strong figures.
