The parent company Ratos, with the garden and plant chain Plantagen in its portfolio, reports an operating profit for the first quarter of the year of 563 million kronor.
This can be compared to the profit of 329 million during the first quarter last year.
Net sales decreased by 4 percent to 7.5 billion kronor.
During the quarter, a reconstruction of the portfolio company operating the Plantagen chain was completed. According to Ratos, this will result in annual cost savings of approximately 400 million kronor and a reduction of lease commitments by approximately 1.5 billion kronor.
According to CEO Jonas Wiström, the effects of the reconstruction are already visible in the first quarter's results, but also in the form of decreased sales due to closed stores in the chain.
