Two-figure growth rates

Rautakesko, the DIY and builders’ merchant subsidiary of the Finnish Kesko group, achieved net sales of 461 mio euro in the first six months of 2003, which amounts to growth of 23 per cent over the corresponding period last year. Sales rose by 8.1 per cent to 339 mio euro in Finland, and the branches abroad generated an increase of 101.6 per cent to 121.4 mio euro. The group succeeded in increasing its operating profit by 85 per cent to 11.3 mio euro, a sum that also includes profits from the sale of stores in Sweden and Estonia (2.9 mio euro). Growth of net sales comes to 5.5 per cent for the Finnish K-Rauta stores and 10.9 per cent for the Rautia outlets. The best foreign result was achieved in Latvia, where net sales rose by 38.5 per cent; growth of 15.4 per cent was notched up in Sweden.