KESKO CORPORATION STOCK EXCHANGE RELEASE ... - Euroland

13
On 9 April 2001, Kesko Corporation´s Annual General Meeting
adopted the financial statements for 2000, discharged those
accountable from any liability, and decided to pay a dividend of
EUR 1.00 per share. According to the Board of Directors’
proposal, the second paragraph of article 11 of the Articles of
Association was amended to read as follows: To have the right to
attend a General Meeting, shareholders shall register with the
company not later than on the date stated in the announcement of
the meeting, which date may not be earlier than (10) days prior
to the meeting.
On 4 May 2001, after the period under review, Kesko published
its first report on corporate responsibility. It is based on the
recommendations of the international Global Reporting Initiative
organisation.
Future outlook
According to the forecasts of the Research Institute of the
Finnish Economy, private consumption will increase by almost
four percent in Finland this year. Economic and consumer
forecasts for future development continue to be optimistic.
Together, they provide good operating conditions for domestic
trading. Kesko Group’s net sales are expected to grow by about
two percent in 2001, while the Group´s operating profit,
excluding non-recurring items, is expected to fall short of the
previous year’s level.
The ongoing chain reform will provide better conditions for
Kesko to increase its net sales and to improve its
profitability. This year, Kesko´s net sales are decreased by net
pricing, an essential part of the chain operations, which lowers
wholesale prices and decreases the Group’s net sales by about
two percentage points.
Helsinki, 9 May 2001
Kesko
Board of Directors
Further information: Executive Vice President and CFO Juhani
Järvi, telephone +358 1053 22209 and Vice President Paavo
Rönkkö, telephone +358 1053 22569.