ICA shareholders reap 610m kronor rewards
The Local · 22 Feb 2006, 13:10
Published: 22 Feb 2006 13:10 GMT+01:00
Income was 71.7 billion kronor, compared to 73.3 billion in 2004.
In announcing the results the ICA board revealed that they have decided to sell the Ica Meny subsidiary, which distributes products to restaurants and canteens.
In the fourth quarter of 2005 ICA made a profit after tax of 455 million kronor, compared to 294 million kronor in the same period of the previous year. Turnover climbed to 19.3 billion kronor from 19.5 billion kronor in 2005.
Managing director Kenneth Bengtsson wrote in the report that ICA was expecting the fierce competition in the market to continue in 2006.
"But we are focused on reaching a position of market leadership in Sweden, Norway and the Baltics," he wrote.
The board and managing director is proposing doling out 610 million kronor to the shareholders, Holland's Royal Ahold, which owns 60%, and Swedish Hakon Invest, which owns the remainder.