Brief: Stockmann Q1 Operating Result Swings To Profit EUR 9.8 Mln

Lindex Oyj

29/04/2022 06:42

April 29 (Reuters) - Stockmann Oyj Abp  STOCKA.HE :
    * STOCKMANN GROUP'S INTERIM MANAGEMENT STATEMENT, 1 JANUARY
- 31
MARCH 2022
    * EXPECTS AN INCREASE IN GROUP'S REVENUE AND THAT ADJUSTED
OPERATING RESULT WILL BE CLEARLY POSITIVE
    * GEOPOLITICAL INSTABILITY IN WORLD WITH HIGH INFLATION AND
CHALLENGES IN SUPPLY CHAINS AND INTERNATIONAL LOGISTICS AS WELL
AS CHALLENGES OF COVID-19 RESTRICTIONS REQUIRE THAT BOTH
DIVISIONS HAVE TO BE ADAPTIVE AND FLEXIBLE TO MEET FUTURE.
    * Q1 REVENUE WAS EUR 196.1 MILLION (155.7), UP 27.1% IN
COMPARABLE
CURRENCY RATES.
    * STOCKMANN GROUP HAD A POSITIVE Q1 AND BOTH DIVISIONS
CONTINUED
TO IMPROVE THEIR BUSINESS CLEARLY.
    * Q1 OPERATING RESULT INCREASED TO EUR 9.8 MILLION (-27.6).
    * AFTER SELLING DEPARTMENT STORE PROPERTIES, STOCKMANN'S
BALANCE
SHEET IS STRONGER
    * UNCERTAINTY IN GLOBAL ECONOMY IS EXPECTED TO PERSIST
THROUGHOUT
2022
    * STOCKMANN DIVISION WILL CONTINUE TO EXECUTE RESTRUCTURING
PROGRAMME AND LINDEX TO EXPLORE NEW GROWTH OPPORTUNITIES.

Source text for Eikon:  ID:nWkr927RDC 
Further company coverage:  STOCKA.HE 

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