Preliminary results for Kesko from the first quarter – Raises the guidance for the whole year 2022

Kesko reports its preliminary figures for January-March. According to the company, its turnover was approximately EUR 2,707 million and comparable operating profit was approximately EUR 144 million.

The quarter is said to have performed better than expected. In January-March 2021, the company generated a turnover of EUR 2,539 million with an operating profit of EUR 116 million.

At the same time, Kesko is raising its earnings guidance and estimates that comparable operating profit in 2022 will now be in the range of EUR 730–840 million.

Previously, the company estimated operating profit to be EUR 680–800 million. In 2021, Kesko’s comparable operating profit was EUR 775.5 million.

The company says that the reason for raising the guidelines was stronger-than-expected demand in the construction and building services trade, especially for corporate customers. In addition, the stronger-than-expected rise in prices is expected to improve earnings.

The development in the grocery trade is also expected to continue at a good level. Specially Kespron The sales development and result of the Foodservice business are expected to be stronger than previously estimated.

Kesko is not due to publish its first quarter interim report until Friday, April 29.

Source: Arvopaperi by

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