Finnish retail and services group Kesko has seen its net sales for the nine-month period from January to September rise to €7.41 billion, up from €6.5 billion a year earlier – an increase of 13.9%.
If acquisitions and disposals are excluded, the retailer's sales grew by 2.0%. Operating profit was €187.0 million, compared to €155.3 million a year earlier.
"Kesko’s business operations grew strongly in the third quarter, due to the acquisitions that have been made," said Kesko president and CEO Mikko Helander.
"The integration of Suomen Lähikauppa has progressed as planned, and by the end of September, 118 Siwa and Valintatalo stores had been converted into K-Market stores. The acquisition of Onninen can be seen in the significant growth in the B2B trade of the building and technical trade."
Helander added that the group's recently launched K-Plussa loyalty programme will be "the most personally rewarding customer-loyalty programme, offering the best digital services".
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
