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Axfood

Swedish food retailer, Axfood reports a two percent rise in profits

Friday, 19 April 2013
Swedish food retailer, Axfood reported a profit before tax of Skr 247 million against Skr241million for the first quarter of 2013. Expectations was for Skr242 million, according analysts estimates and consensuses.

The result therefore presented a 2 percent better than expected result. The detailed results is presented here via the interim Report from Axfood AB which show the company's performance between 1 Jan.-31 March 2013

First quarter summary

Axfood's consolidated sales for the period January–March totalled SEK 8,950 m (8,718), an increase of 2.7%.
Retail sales for Group-owned stores increased by 4.2% during the period.
Like-for-like sales increased by 2.3% during the period.
Operating profit for the period was SEK 254 m (250).
Profit after financial items was SEK 247 m (241) for the period.
Profit after tax totalled SEK 194 m (179) for the period, and earnings per share were SEK 3.69 (3.40).
Axfood and Statoil Fuel & Retail Sverige AB signed an agreement on extended and expanded cooperation.
Willys launched a customer programme.
Axfood's goal for 2013 is to achieve an operating profit at the same level as in 2012.

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