Further expansion of Musti Group

Musti Group, the Finnish retailer, has published its figures for the 4th quarter of 2023. These show that the group’s net revenue was 110.4 mio euros, an increase of 8.4 per cent over the third quarter of 2023. For fiscal 2023 as a whole, net sales of 425.8 mio euros were reported.

Broken down by country, net revenue in the retailer’s domestic market in Finland rose by 12.7 per cent to 50 mio euros in the 4th quarter, while the full-year figure for 2023 was 190.0 mio euros. During Q4, there were no changes in the store network.

In Sweden, earnings grew by 2.2 per cent in the 4th quarter to 43.4 mio euros and fiscal 2023 closed with revenue totalling 170.9 mio euros. One new directly operated store was opened and one franchise store left the chain.

Earnings in Norway increased by 13.1 per cent to 17 mio euros, bringing the total for the year to 65 mio euros. Two directly operated stores were opened and one directly operated store closed in Norway.

“We are on track to reach the long-term financial targets,” the company reported.