The grocery giant Formica holding company ICA Group reports a profit before tax of 1.025 billion kronor in the second quarter. That compares with profit of SEK 961 million the corresponding period last year.
Equity pros had expected a profit before tax of 995 million kronor, according to Reuters.
The turnover amounted to 26,222 million, compared to 25.542 billion kronor a year earlier.
“this quarter shows a good development for the ICA group. All parts of the Group improves earnings excluding ICA Bank. Especially positive was that we gained market share and to ICA stores in Sweden again has had a few months of really good sales performance. On the negative side, we note that we have had continued disruptions with higher costs as a result of the logistics operation in southern Sweden, “writes Ica Group CEO Per Strömberg in a statement.
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