Scandic reports record third-quarter results as sales rise 7.9%

Net sales increased by 7.9 percent to SEK 6.9 billion.

The result was slightly better than expected, according to Bloomberg.

Before the report, Scandic completed its multi-billion-krona acquisition of Dalata's 57 hotels.

"A strong hotel market with high demand, together with our operational efficiency, contributes to good growth, record results and very strong cash flow," CEO Jens Mathiesen says in a comment in the interim report.

"Business travel, meetings and conferences have shown stable demand so far in the fourth quarter. For the quarter as a whole, we expect slightly higher occupancy and price levels than in the previous year," he adds.