April 24, 2018 / 5:10 AM / a month ago

BRIEF-Axfood Q1 operating profit beats forecasts

April 24 (Reuters) - Axfood AB:

* GOOD START TO THE YEAR - STRONG GROWTH WITH HIGHER EARNINGS

* Q1 CONSOLIDATED NET SALES AMOUNTED TO SEK 11,444 M (10,639), AN INCREASE OF 7.6%

* Q1 OPERATING PROFIT WAS SEK 435 M (397), AN INCREASE OF 9.6%. OPERATING MARGIN WAS 3.8%

* REUTERS POLL: Q1 EBIT WAS EXPECTED AT 408 MLN SEK, SALES AT 11,378 MLN SEK

* SAYS WITH AN OPERATING MARGIN OF 3.8% WE ARE ON TRACK TO OUR LONG-TERM TARGET OF 4%, AND WE CONTINUE TO DELIVER ACCORDING TO OUR STRATEGIC AGENDA Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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