Swiss kiosk business weighs on Valora's half-year figures
The international retail group Valora, which also owns Kiosk Schweiz, reported sales of 1,433 million Swiss francs for the first half of 2007. A year-over-year comparison shows that the group’s performance has stagnated, although all divisions are on track except for Kiosk Schweiz.
The international retail group Valora, which also owns Kiosk Switzerland, reports sales of CHF 1433 million for the first half of 2007. The year-on-year comparison shows the Group stagnating, with all divisions on track except Kiosk Switzerland. The Group was only able to increase its sales slightly compared to the previous year. The core Kiosk Switzerland business even shrank, with Valora citing the continuing negative trend in tobacco and press revenues as the reasons. The Group also suffered losses in the non-food and services categories, which had a significant negative impact on earnings, as Valora writes in a press release. The measures already taken to improve earnings had not yet produced the desired results. As a result, the operating result for the first half of the year fell by CHF 23 million year-on-year to CHF 17 million. The Group is forecasting a better result for the second half of the year, but this will not compensate for the lack of income in the first six months.
