FINLAND: S Group Reports Slight Growth In YTD Sales

The S Group has reported a modest rise in sales for the first three quarters of its fiscal year, despite the tough market conditions.

For the January-September period, sales were up 1.8% year-on-year to €8.1bn.  Grocery sales in Finland were up 3.9% to €5.05bn, while Consumer Goods saw sales grow by 2.4% to €848m. The Prisma stores performed particularly well, while its department stores also reported growth.

S Group noted, however, that the lower prices of fuels, as well as deregulated opening hours, continued to affect sales at its ABC service stations. Meanwhile, sales in S Group’s restaurants decreased due to the reduced network of locations.

CEO Taavi Heikkilä noted: “We fared much better than the other operators in the grocery trade. The favourable image of our price levels has boosted sales”.  Heikkilä added: “The favourable development of the consumer goods trade may indicate that consumer trust is continuing to grow stronger”.