Strong operating income in third quarter
Stockholm, Sweden - Today, ICA published its interim report for the third quarter and first nine months of 2012, reporting strong operating income.
Third quarter highlights
ICA's CEO, Per Strömberg, commented: "The ICA Group’s positive development continued during the third quarter. Operating income amounted to SEK 1,043 million, our strongest quarterly result to date. However, net income for the period was impacted by a tax expense of about SEK 1.3 billion due to the ruling by the Administrative Court of Appeal on October 4.
“The work to define the ICA Group’s future strategic direction has resulted in a new Group-wide strategy approved by the Board of Directors in September. The strategy is based on ICA’s strengths – including our fundamental business model with retailer-owned stores, a strong customer base and strong brands – and accentuates the importance of capitalizing on opportunities for synergies within the Group. The Group strategy is based on six strategic themes that will set the direction for everything we do: Strengthen customer loyalty and brand position, Strengthen and expand our customer offering, Optimize and broaden our sales channels, Simplify our business, Engage and develop our people, Excel in corporate responsibility. These in turn define a number of areas and priorities which we will work with in the short and medium term and now serve as the basis of the companies’ continued strategy work for 2013 and beyond."