Eurocash profit lower than consensus

Poland’s biggest FMCG distributor Eurocash generated a consolidated net profit of PLN 57.5 million in the third quarter of 2014 compared to PLN 73.9 million a year earlier. Analysts surveyed by the Polish Press Agency expected a net profit of PLN 60.6 million. Eurocash recorded an operating profit of PLN 80.5 million compared to PLN 85.8 million a year ago. Analysts expected it to be PLN 79.9 million. The company’s revenue amounted to PLN 4.5 billion in Q3 and declined by 6.2 percent year-on-year. Market consensus saw the revenue at PLN 4.36 billion.