Valora: Profit expectations for 2011 lowered
Kiosk operator Valora is struggling with the continuing decline in press sales and increasing parallel imports. It is lowering its profit expectations (EBIT) for the current financial year from at least CHF 81 million to around CHF 70 million.
The ongoing decline in the press market worsened in the third quarter and led to a sharp drop in sales, Valora wrote in a press release on Monday evening. The current 10 percent decline in press sales can no longer be compensated for in the current financial year.
In addition, the Trade Switzerland division is now having to contend with high parallel imports and a general reluctance to spend due to the current exchange rate situation. This is having a negative impact on sales. By contrast, the Retail division is developing positively. Here, sales increased by more than 2 percent despite a 4 percent contraction in the overall market. (SDA)
