Brief: Axfood Q1 Operating Profit Up At SEK 544 Mln

Axfood AB

22/04/2020 06:07

April 22 (Reuters) - Axfood AB  AXFO.ST :
    * GROWTH AND HIGHER PROFITABILITY
    * Q1 CONSOLIDATED NET SALES TOTALLED SEK 13,067 M (11,931),
AN
INCREASE OF 9.5%
    * Q1 OPERATING PROFIT TOTALLED SEK 544 M (485)
    * Q1 NET PROFIT FOR PERIOD TOTALLED SEK 402 M (354)
    * CONSUMERS' HOARDING OF GROCERIES RESULTED IN STRONG SALES
GROWTH
DURING PERIOD
    * ANNUAL GENERAL MEETING ON 18 MARCH RESOLVED IN FAVOUR OF
BOARD'S
PROPOSAL FOR A SHAREHOLDER DIVIDEND OF SEK 7.25 (7.00) PER SHARE
    * DIVIDEND AMOUNT IS TO BE PAID ON TWO OCCASIONS
    * FIRST DIVIDEND PAYMENT OF SEK 3.75 PER SHARE WAS MADE IN
MARCH
    * SECOND PAYMENT OF SEK 3.50 PER SHARE WILL BE MADE IN
SEPTEMBER
    * DURING Q1, AXFOOD'S OPERATIONS WERE IMPACTED BY CHANGED
SHOPPING
BEHAVIOURS AMONG CONSUMERS AS A RESULT OF SPREAD OF NOVEL
CORONAVIRUS, COVID-19
    * CERTAIN BUSINESSES WITHIN AXFOOD WERE HOWEVER NEGATIVELY
AFFECTED, SUCH AS AXFOOD SNABBGROSS, URBAN DELI, AND EUROCASH

Source text for Eikon:  ID:nWkr2V6VGw 
Further company coverage:  AXFO.ST 

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