Kesko Group: 9M-2022 sales growth improved profit

Kesko / FI. (kkc) The best Q3 result in the company’s history Finland’s Kesko Group announced with its 9M Financial Report 01-09/2022, released this week. The quarter-result has now improved on its comparison period for 14 consecutive quarters. Net sales grew by 3.4 percent in comparable terms, totalling EUR 3,010 million. Comparable operating profit totalled EUR 243 million, representing an increase of EUR 6.4 million. The results achieved act as strong proof of Kesko’s uniqueness as a trading sector operator and the effectiveness of Kesko’s strategy also in a post-pandemic market.

In food trade, profit improved thanks to good performance in Kespro and the grocery stores. The division’s sales continued to grow, and its net sales totalled EUR 1,574 million and operating profit EUR 133.4 million. The operating profit improved thanks to sales growth in both Kespro and the grocery stores. Kespro’s performance was particularly strong, with sales growth of over 15 percent. Consumer online grocery sales also grew by 3.4 percent. Online growth is also supported by the extensive collaboration the Group has launched with Wolt. Hesko has focused more on the price-competitiveness of its grocery stores and has ranked well in price comparisons in the media. K Group grocery stores are the only ones on the market that offer both bargains and premium under one roof.

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