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Finland's SOK Posts 2.4% Increase In First Half Sales

Finland's S Group (SOK) has posted a 2.4% increase in retail sales for the period from January to June, of €5.5 billion.

The group said that its profit before tax was €119 million, up from €105 million the previous year.

It said that the introduction of 'more diverse product selections, extended opening hours and lower prices' are helping to boost sales growth. In addition, e-commerce sales were up around 50% on the same period last year.

Investment

The group invested around €246 million in the business during the period, on a par with the same period last year, with the Siposeen logistics centre the most significant investment.

As of the end of June, SOK boasts a total of 1,630 stores (compared to 1,647 for the same period last year), while it employs 41,381 (compared to 41,337 last year).

SOK chief executive Taavi Heikkilä has pledged to "improve the range and quality of service" in its stores in the future, as well as invest more in value, according to a company statement.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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