Unexpected rise in Valora’s profit
Retail to photo processing group, Valora, has revealed a better than expected 23 per cent increase in net profit from continuing activities to SFr100.8 million ($58.2 million).
The company has three main activities: its Swiss-based Kiosk chain of convenience stores, its European photo development business Fotolabo, and its food distribution business Alimarca.
Valora, based in Bern, said that costs tied to the sale of its Slumberland bedding business were lower than expected, leading to an extraordinary charge of SFr46 million last year, less than previously announced.
Profits were also boosted by the consolidation of its Luxembourg kiosk chain Messageries Paul Kraus.
It said it expected further growth in sales this year, and a rise in profits, which would be proportionally greater than the sales rise.
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