Kesko's sales grew 2.9% in May
Retail group Kesko reported a 2.9% increase in May sales year-on-year, with total sales reaching €1.13 billion. Growth was primarily driven by the building and technical trade division.
Finnish retail conglomerate Kesko Oyj's sales increased by 2.9% in May, reaching €1.13 billion compared to the same period last year. Comparable sales, excluding structural changes and currency impacts, grew by 0.9%. The building and technical trade division was a significant contributor, with sales rising by 9.8%.
The grocery trade division saw a modest sales growth of 0.2%, totaling €547 million. However, wholesale operations (Kespro) experienced a 3.1% decrease in sales. The building and technical trade division's sales reached €479.5 million. This segment benefited from recent acquisitions in Denmark, with comparable sales growth standing at 4.7% when excluding these structural changes.
Car trade sales declined by 9.3% to €110.6 million in May. While new car and service sales decreased, the used car market showed improvement. Sports trade sales also declined by 7.3%.
For the January-May period, Kesko Group's total sales increased by 6.4% to €5.39 billion. The building and technical trade segment demonstrated robust growth of 12.6% during these five months, despite a reduction in delivery days in key markets like Finland and Sweden.
Kesko's sales figures for May indicate a positive start to the second quarter. The company continues to focus on its strategic objectives, aiming to enhance profitability and solidify its market position.