Future outlook 2008 Q1

Interim financial report 1-3/2008 (Published on 22 April 2008)

The Group's operating activities are affected by the economic outlook in its different market areas and especially by the growth rate of private consumption. Market growth is expected to slow down in the Nordic and the Baltic countries. In Finland, consumer demand is expected to remain at a good level. As a result of an economic uncertainty prevailing throughout the Baltics, the construction market is expected to slow down especially in Estonia and Latvia.

The sales from the Group's continuing operations are expected to grow during the next six months, which is especially attributable to the expansion of the food store and the building and home improvement store networks, and the expected increase in car sales.

During the next six months, the Kesko Group's operating profit, excluding non-recurring items, from continuing operations is expected to remain at a good level, although lower than in the corresponding period of the previous year. In addition to the slowing market growth, profitability will be impacted by an intensive expansion and renovation of the store site network.