Kesko up on acquisitions in Denmark after in-line July sales

Kesko

14/08/2024 11:14

** Shares in Finnish retailer Kesko  KESKOB.HE  rise 3.5%
after it posted July sales in line with expectations and
announced three acquisitions in Denmark
    ** Kesko agrees to buy three builders' merchants in Denmark,
with combined net sales of some EUR 400 million ($441 million)
in 2023
    ** "We take a positive view of the transaction due to
Kesko's good acquisition accuracy and thus creation of
shareholder value," Inderes analyst Arttu Heikura says
    ** Kesko's monthly sales grew 4.1% in comparable terms to
EUR 975.7 million in July, including 5.1% growth in grocery
sales to EUR 539.4 million
    ** Heikura says July growth was driven by the grocery
business and building and technical trade, and came overall in
line with expectations
    ** Sales in the building and technical segment rose 5.1% in
comparable terms to EUR 348.1 million

($1 = 0.9069 euros)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))