Valora reassures the market with good quarterly figures

 The Valora retail group has repeatedly been the subject of various market rumors in recent weeks. It is now attempting to calm the waters and is publishing its first quarterly figures to this end. Valora expects to report an operating profit of CHF 21 million for the third quarter. Net sales improved by 39 million francs compared to the previous year and amounted to 756 million francs, according to a press release. With this publication, the company is probably seeking to reassure analysts and shareholders who were angered by the poor figures from the second quarter. According to the press release, Valora is now "cautiously optimistic". At the same time, the Group is also scattering ashes on its own head: the "unfortunate divestment and acquisition policy of the late nineties" has been rectified, albeit at a cost of over CHF 600 million. Valora is now pursuing a policy of focusing and is now only active in the retail sector, with three business segments: Retail, Media and Trade.
Problems are now looming on another front: Valora is rejecting demands from a new, unnamed group of investors. The Board of Directors emphasizes in the press release that it will adhere strictly to the current Articles of Association "in the event of any dispute". The Board of Directors firmly rejects demands for an Extraordinary General Meeting, as expressed in the media. The background to this is probably the acquisition of 11.01% of the shares by Adriano Agosti (see
).