Kesko tracks best day in >10 years after Q3 profit beat
30/10/2024 08:41
** Shares in Finnish grocery retailer Kesko KESKOB.HE rise 10%
after its Q3 print beat market expectations
** Kesko's Q3 adjusted EBIT came to EUR 201.5 million versus
the EUR 187.9 million seen by analyst polled by Vara Research
** "The company's earnings position turned out to be
stronger than our (EUR 179 million) and consensus (EUR 188
million) forecasts," Inderes analyst Arttu Heikura says
** Heikura says that Kesko managed to exceed Inderes'
expectations for each segment, adding that there is some upward
pressure on forecasts for the rest of the year
** If gains hold, Kesko share is on track for its best day
since February 2014
** The stock is among biggest gainers on STOXX 600 .STOXX
index
(Reporting by Elviira Luoma)
((Elviira.luoma@thomsonreuters.com))