STOCKHOLM, Sweden, Feb. 6, 2003 (PRIMEZONE) -- Axfood AB (publ.) (Stockholm:AXFO):
-- Axfood's consolidated sales amounted to SEK 33,115 m (32,428), an
increase of 2.1%. Retail sales for Axfood's wholly owned businesses
in Sweden rose by 9.6% during the year. The increase for the fourth
quarter was 7.6%.
-- Operating profit for the period January-December was SEK 1,023 m
(653). Operating profit for the fourth quarter was SEK 271 m (155),
an increase of 75% compared with the same period a year ago. Willys,
Dagab and Spar Finland made the strongest contributions to the
earnings improvement.
-- Profit after net financial items amounted to SEK 919 m (527), an
increase of SEK 392 m.
-- The fourth quarter entailed a slight improvement for Hemkop. The
operating margin rose by 0.4 percentage points, to 2.2% (1.8%).
-- Axfood's long-term operating margin target for 2005 has been raised
to 3.5%.
-- The Board of Directors proposes that the dividend be raised to
SEK 5.00 (2.50) per share. The dividend policy is being changed to
correspond to an average of 40% of profit after tax (previously a
minimum of 30% of profit after tax during a business cycle).
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