Estonia, Good for Business, Markets and Companies, Retail

The unaudited consolidated net profit of the group for the quarter was 9.9 mln euros, 3.5% bigger than the profit of the same three months of the previous year.

The sales revenue generated in the first nine months of the year was 501.6 mln euros, representing an increase of 5.3% compared to the first nine months of 2017, when group sales revenue totaled 476.2 mln euros. The net profit of the group in the first nine months was 18.9 mln euros, 5.6% bigger than in the same period of the previous year.

Pretax profit in the first nine months of the year totaled 25.2 mln euros, marking an increase of 3.5% compared to the previous year. The size of the net profit was influenced by the dividend payment, on which income tax of 6.3 mln euros was accrued in the first quarter of 2018, whereas a year earlier, income tax was accrued in the amount of 6.4 mln euros.

In the third quarter of 2018, the group's car trade and supermarket segment continued to produce a good sales growth. The total sales results of the department stores and footwear segment were slightly lower than the previous year.

The traffic management that complicated access to the Tallinn store and the reduction of the number of visiting tourists had a negative impact on the sales revenue generated by the Kaubamaja segment. A stronger growth in sales revenue has been registered in the e-commerce channels of the group's retail segments, the development of which is still among the priorities of the group. In the third quarter, the group continued at the same margin level compared to the previous year, although there were fleet transactions at a more modest margin in the growing car segment, the group said in the interim report.