July 25, 2012 / 6:27 AM / 5 years ago

Kesko Q2 profits hit by slow car sales, expansion

HELSINKI, July 25 (Reuters) - Finnish retailer Kesko reported a steeper-than-expected fall in second quarter operating profit due to weaker car sales and expansion costs.

Kesko’s April-June operating profit, excluding one-off items, fell 27 percent to 60.7 million euros ($73.36 million). That missed the market’s average forecast of 67 million euros in a Reuters poll.

Kesko forecast its core operating profit to be lower over the next 12 months due to weaker car sales and higher investment costs. ($1 = 0.8275 euros) (Reporting by Helsinki Newsroom)

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