Although Kesko saw a 3.8 percent fall in turnover last year, to 9.3 billion euros, the group did manage to increase profits. However the corporation’s largest worry has been the weak performance of its department-store chain Anttila.
Around a third of the country’s stores – which in total employ 2,600 people – are marked for closure. In an attempt to increase productivity, a number of rented premises are planned to be shut down over the next two years.
The economic downturn and resulting fall in consumer demand have especially hit turnover for homewares and hardware in Finland. The group’s net sales in this area decreased by 3.3 percent at home, and 6.1 percent in other countries.
However operating profit – excluding non-recurring items – rose by about 9 million euros last year to 239 million euros.
Kesko now intends to pay a dividend of 1.40 euros per share, compared to 1.20 for 2011 and 2012. The largest dividend was paid for the year 2003, at 2 euros per share.
The group has paid a dividend every year since 1940 with the exception of 1967, for which it blamed a fall in profits due to the devaluation of the Finnish mark.