Finland's Kesko Sees Russian Divestments Decrease Q1 Sales
Finnish retail group Kesko has reported a sales decrease of 5.7%, to €2.4 billion, for the first quarter of 2018, driven by divestments from its Russian building and home improvement operations.
On a like-for-like basis, sales grew by 3.4% in local currencies, as did like-for-like operating profit – up 27%, to €40 million.
The negative sales in absolute terms were due to divestments carried out in the first half of 2017.
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