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Earnings shortfall for Ica owners


  

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Thursday, 25 August 2011
Dutch Ahold, which owns 60 percent of Swedish supermarket chain, Ica, reported a worse result than expected results for the second quarter.

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Net income fell to EUR199 million, that is around Skr1.8 billion, from EUR 202 million a year earlier. Analysts had expected a profit of EUR 218 million.
Sales declined by 3.5 percent to EUR6.9 billion.
The company will now buy back shares and invest in establishing themselves in Germany next year.
By Scancomark.se team


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