Kesko reports improved profit driven by technical trade
Finnish retail group Kesko Oyj has reported a significant increase in profit for the first half of 2026. Net sales grew by 6.5% to €6.4 billion, with comparable operating profit rising to €296.1 million.
Helsinki – Finnish retail conglomerate Kesko Oyj announced a substantial improvement in its financial results for the first half of 2026. The company's net sales increased by 6.5% to €6.4 billion, while comparable operating profit rose to €296.1 million from €272.3 million in the same period last year.
The profit growth was primarily driven by the strong performance of the building and technical trade division. President and CEO Jorma Rauhala highlighted that both sales and profit generation in technical trade showed positive momentum. During the second quarter (April-June), net sales grew by 4.2% to €3.4 billion, and comparable operating profit reached €194 million, an increase of €17.3 million compared to the previous year.
Grocery trade also experienced growth, with net sales totaling €1.6 billion. However, the comparable operating profit for the division saw a slight decrease in the first half. Kesko anticipates that the comparable operating profit margin for grocery trade will remain well above 6%, despite investments in pricing and store network.
Kesko has updated its profit guidance for 2026, now estimating comparable operating profit to be between €670–€730 million, a slight narrowing from the previous forecast of €650–€750 million. The company expects the operating environment to improve across all divisions and countries, though it acknowledges ongoing uncertainties related to consumer confidence and geopolitical tensions.