Q1 profit miss, guidance cut dent Kesko shares
25/04/2024 09:04
** Kesko's KESKOB.HE shares slide 4.5% as the Finnish retailer
delivered Q1 earnings below estimates, trimmed guidance
** Its comparable EBIT of EUR 99.5 million, came in about
7%lower than the mean estimate seen in Vara Research poll
** "Grocery trade and car trade operating profits came in
quite in line with expectations, but in building and technical
trade the profitability was quite disappointment," Inderes says
** The weaker-than-expected outlook for construction made
Kesko trim the upper end of its comparable operating profit
guidance range for 2024 to EUR 620-700 million versus previous
guide of EUR 620-720 million
(Reporting by Anna Chaberska)
((Anna.chaberska@thomsonreuters.com))