The retail division Kesko had the best first-quarter results in its history, according to a stock exchange release published by the company on Wednesday.
President and CEO of the Group Michko Helander sales had increased in all of the company’s divisions, and net sales increased by 5.9 percent to EUR 2.53 billion.
At the same time, the company’s comparable operating profit increased by more than EUR 51 million to EUR 116.2 million.
The company’s grocery division, which includes its K-brand supermarkets, grew by 6.1 percent. Meanwhile, the company said its grocery sales had grown more than 300 percent in the early part of the year.
Net sales also increased in the construction and technical trade division by 7.7 per cent and in the new and used car trade business by 16.8 per cent.
"The outlook for 2021 is positive. We estimate that Kesko’s comparable operating profit in 2021 will be EUR 570-670 million. The effects of the Covid-19 pandemic remain difficult to predict and, as a result, the scope of the 2021 comparable operating profit guidelines remains wide," Helander said in a statement.
OP Financial Group wins
At the same time, according to OP Financial Group’s President and CEO Timo Ritakallio, OP ‘s result for the first quarter (EUR 265 million) was double that of the first quarter of last year (EUR 129 million).
According to the President and CEO, the Group’s result improved in all its business operations in January-March, and customer business income increased by seven percent, which was a record high of EUR 743 million.
Positive stock market developments also helped during the first quarter, Ritakallio said in a statement.
According to the group, consumers’ good confidence in their personal finances was also reflected in positive results.
Quelle: Die nordische Seite