Brief: Axfood eyes automation investments of 400-600 mln SEK/year over a four-year period

Axfood AB

24/10/2018 06:05

Oct 24 (Reuters) - Axfood AB  AXFO.ST :
    * Q3 CONSOLIDATED NET SALES AMOUNTED TO SEK 12,050 M
(11,578), AN
INCREASE OF 4.1%.
    * Q3 OPERATING PROFIT WAS SEK 620 M (604), AN INCREASE OF
2.6%.
    * Q3 OPERATING MARGIN WAS 5.1% (5.2%)
    * SAYS WARM, DRY SUMMER HAD BOTH POSITIVE AND NEGATIVE
EFFECTS ON
OPERATIONS
    * SAYS WILLYS HAD VERY STRONG PERFORMANCE AT SAME TIME THAT
AXFOOD
SNABBGROSS WAS AT TOP WITH GROWTH OF MORE THAN 11%
    * SAYS FOR OUR LOGISTICS OPERATIONS, SUMMER HEAT HAD A
NEGATIVE
EFFECT WITH EXTRA COSTS THAT WEIGHED DOWN PROFITABILITY
    * SAYS ESTIMATES INVESTMENT NEED IN AUTOMATION OF SEK
400-600
MILLION/YEAR OVER A FOUR-YEAR PERIOD

Source text for Eikon:  ID:nWkrbzxMb9 
Further company coverage:  AXFO.ST 

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