Brief: Meko Q1 Net Sales Rise To SEK 3,973 Mln

Meko AB

16/05/2023 06:36

May 16 (Reuters) - Meko AB  MEKO.ST :
    * Q1  NET SALES INCREASED 26 PERCENT TO SEK 3,973 M (3,155).
    * Q1 EBIT AMOUNTED TO SEK 200 M (190) AND EBIT MARGIN WAS
4.9
PERCENT (5.9)
    * UNCERTAIN GLOBAL SITUATION IMPACTED SALES AND
PROFITABILITY IN
QUARTER IN SEVERAL OF GROUP'S MARKETS.
    * SALES REACHED A NEW RECORD-HIGH LEVEL, EARNINGS IMPROVED
    * WE HAVE FELT EFFECTS OF RISING PURCHASE PRICES, AS WELL AS
SOME
INTENSIVE REGIONAL COMPETITION AND UNFAVORABLE CURRENCY EFFECTS
    * IN NORWAY, THETREND WAS PRIMARILY AFFECTED BY A CAUTIOUS
APPROACH AMONG CONSUMERS
    * IN DENMARK, SITUATION IMPROVED COMPARED WITH PRECEDING
QUARTER,
EVEN IF MARKET ENVIRONMENT REMAINS CHALLENGING.
    * WE ARE INTENSIFYING OUR EFFORTS TO STREAMLINE OPERATIONS
IN
MECA/MEKONOMEN AND IN DENMARK
    * STREAMLINING  IS, AMONG OTHER THINGS, DONE THROUGH MERGING
OF
BRANSCHES, CLOSURE OF UNPROFITABLE BRANSCHES AND TUNING OF STAFF

Source text for Eikon:  ID:nWkr2RZfJ6 
Further company coverage:  MEKO.ST 

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