FINLAND: Kesko Reports Solid H1 Growth

Kesko has reported a solid rise in sales and profit for its fiscal first half, partly helped by its acquisition of Suomen Lähikauppa.

For the six months, sales were up 7.3% to €4.6bn (+2.5% underlying basis), while comparable operating profit grew by 8.3% to €111.4m (+42% reported basis).

Sales at its core Grocery operations were up 8.6% to €2.45bn (+0.9% underlying), while its Building and Technical unit saw sales grow by 5.1% to €1.74bn (+3.5% underlying).

CEO Mikko Helander noted: “The implementation of Kesko’s growth strategy progressed significantly during the second quarter, as the acquisition of Suomen Lähikauppa was completed in April.”  He reiterated the group’s forecast for sales and operating profit to grow for the full year.