Double-digit rates of decline

In the first quarter of 2009 the Finnish Kesko Group’s newly created Building and Home Improvement trade segment, which has covered Rautakesko and the company’s agricultural trade in Finland since the beginning of this year, suffered a sales decline of 23.9 per cent to € 529 mio. The net sales of this division in Finland went down by a total of 24.5 per cent to € 175 mio. This includes a drop of 10.5 per cent to € 88 mio for the agricultural trade. The group’s international sales in the first quarter decreased by 27.1 per cent to € 267 mio compared to the same period last year. The decline amounts to 19.4 per cent at constant exchange rates.