Finnish retailer K Group has reported that its net sales in full-year 2018 totalled €10.38 billion – a 3.5% increase in comparable terms.
Comparable operating profit was €332.2 million, compared to €296.2 million last year.
In the group’s grocery trade division, sales development was ‘good’ across all chains, the group reported, with K Group seeing an improvement in customer numbers and market share.
Grocery Performance
Net sales in the grocery business were €5.39 billion – a 5.1% increase in comparable terms. Operating profit in the division was €228 million.
‘We have already updated the look and selections of a significant number of our stores, and will continue the redesigns this year,’ K Group reported in a statement.
'Growth also continued [...] online, and more than 150 K-food stores offered online sales of groceries by the end of the year. We strengthened Kespro’s competitiveness in foodservice wholesale by acquiring leading Finnish fresh fish and meat providers Kalatukku E. Eriksson and Reinin Liha.’
Elsewhere, its building and technical trade division saw comparable sales go down by 4.6%, while its car trade business's comparable sales went down by 1.8%.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
