Scandic's revenue lower than expected as fourth-quarter net sales reach SEK 5.5 billion

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Scandic's revenue lower than expected as fourth-quarter net sales reach SEK 5.5 billion
Photo: Janerik Henriksson/TT

Hotel chain Scandic Hotels' net sales increased 1.6 percent in the fourth quarter to SEK 5.5 billion. That was lower than the expected SEK 5.6 billion, according to a Bloomberg compilation.

At the same time, operating profit fell to SEK 477 million from SEK 626 million in the comparison quarter.

"The year has started well and the booking situation is better than at the same time last year, which creates the conditions for a stable first quarter with both higher occupancy and average room rates compared to the same period last year," CEO Jens Mathiesen writes in the report.

The board of directors proposes a dividend of SEK 2.60 per share.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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