Brief: Mekonomen Q2 EBIT Rises To SEK 240 Million

Meko AB

23/08/2019 06:33

Aug 23 (Reuters) - Mekonomen AB  MEKO.ST :
    * SECOND QUARTER INTERIM REPORT JANUARY - JUNE 2019
    * 1 APRIL - 30 JUNE 2019 NET SALES AMOUNTED TO SEK 3,100 M
(1,633)
    * Q2 EBIT SEK 240 MILLION VERSUS SEK 173 MILLION YEAR AGO
    * APRIL-JUNE ADJUSTED EBIT AMOUNTED TO SEK 280 M (217).
    * SWEDISH AND NORWEGIAN MARKETS HAVE GROWN IN LINE WITH OUR
EXPECTATIONS OF A LONG-TERM SALES GROWTH OF 1 - 2 PER CENT
    * FOR FIRST SIX MONTHS ORGANIC NET SALES INCREASED BY 1 PER
CENT.
    * DURING SECOND HALF OF 2019, OUR MAIN FOCUS REMAINS ON
INCREASING
PROFITABILITY AND INCREASING CASH FLOW
    * COST-SAVINGS PROGRAMME INITIATED AT BEGINNING OF YEAR
PROCEEDING
AS PLANNED, WITH LIMITED EFFECTS IN Q2
    * PROGRAMME WILL GENERATE COST REDUCTIONS OF SEK 65 M ON AN
ANNUAL
BASIS, WITH FULL EFFECT AT END OF Q4 2019
    * I AM NOT SATISFIED WITH DEVELOPMENT IN RECENT YEARS WHEN
IT
COMES TO OUR UNPROFITABLE OPERATIONS IN GROUP - CEO

Source text for Eikon:  ID:nWkrHLL54 
Further company coverage:  MEKO.ST 

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