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Finland's Kesko Sees Russian Divestments Decrease Q1 Sales

Published on Apr 25 2018 12:35 PM in Retail tagged: Trending Posts / Kesko / finland / K-Group

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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