Brief: Kesko Expects Operating Profit In 2024 In Range Of EUR 620-720 Mln
30/01/2024 06:09
Jan 30 (Reuters) - Kesko Oyj KESKOB.HE :
* PROPOSES DIVIDEND OF EUR EUR 1.02 PER SHARE (VARA
CONSENSUS: EUR
1.02 PER SHARE)
* KESKO'S OPERATING ENVIRONMENT IS ESTIMATED TO REMAIN
CHALLENGING
IN 2024
* GROCERY TRADE DIVISION: THE GOOD PERFORMANCE WAS BASED ON
OUR
STRONG POSITION IN ALL AREAS OF FINNISH FOOD TRADE
* KESKO'S NET SALES AND OPERATING PROFIT ARE ESTIMATED TO
REMAIN
AT A GOOD LEVEL IN 2024 DESPITE CHALLENGES IN COMPANY'S
OPERATING ENVIRONMENT
* GROCERY TRADE DIVISION: SALES GREW IN BOTH THE GROCERY
STORE
BUSINESS AND THE FOODSERVICE BUSINESS
* 2024 OUTLOOK: IN GROCERY TRADE, B2C TRADE AND FOODSERVICE
MARKET
ARE EXPECTED TO REMAIN STABLE DESPITE TIGHTENED PRICE
COMPETITION, AND INFLATION IS EXPECTED TO SLOW DOWN
* 2024 OUTLOOK: PROFITABILITY IN GROCERY TRADE IS ESTIMATED
TO
REMAIN GOOD
* 2024 OUTLOOK: IN BUILDING AND TECHNICAL TRADE, MARKET IS
EXPECTED TO CONTINUE TO DECLINE
* IN BUILDING AND TECHNICAL TRADE DIVISION, PROFITABILITY
REMAINED
GOOD EVEN THOUGH IT DECLINED YEAR-ON-YEAR AS CONSTRUCTION
ACTIVITY AND CYCLE WEAKENED
* KESKO OYJ - IN CAR TRADE DIVISION, NEW CAR SALES AND
TRANSFORMATION OF OUR OPERATIONS HAVE LED TO MARKEDLY IMPROVED
PROFITABILITY
* 2024 OUTLOOK: ECONOMIC CYCLE WILL HAVE BIGGEST IMPACT ON
NEW
RESIDENTIAL BUILDING, DECLINE IN OTHER BUILDING CONSTRUCTION,
RENOVATION BUILDING AND INFRASTRUCTURE CONSTRUCTION IS EXPECTED
TO BE SMALLER
* 2024 OUTLOOK: IN CAR TRADE, NEW CAR SALES ARE EXPECTED TO
FALL
SHORT OF 2023 LEVEL, SALES OF USED CARS AND SERVICES AREEXPECTED
TO GROW
* 2024 OUTLOOK: ESTIMATES THAT ITS COMPARABLE OPERATING
PROFIT IN
2024 WILL BE IN RANGE OF EUR 620-720 MILLION
* ALL KESKO DIVISIONS GENERATED GOOD RESULTS IN 2023
Source text for Eikon: ID:nWkr7H6Yvl
Further company coverage: KESKOB.HE
(Gdansk Newsroom)
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