August 12, 2015 / 5:27 AM / 2 years ago

Finland's Stockmann posts surprise quarterly profit

HELSINKI, Aug 12 (Reuters) - Finnish department store chain Stockmann on Wednesday reported a surprise second quarter profit, helped by its cost-cutting and restructuring programme.

Stockmann's quarterly core operating profit was 5.7 million euros ($6.3 million), up from 3.5 million euros a year ago and beating analysts' average forecast of a loss of about 4 million euros..

It added its preliminary sales were up 5.5 percent in July.

The company, which has been hard hit by slowdowns in Finland and Russia, repeated its full-year outlook of falling sales and improving but negative core profit. ($1 = 0.9028 euros) (Reporting By Jussi Rosendahl, editing by Stine Jacobsen)

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