Ahold Profit Rises 33%
August 20 2015 - 2:40AM
Dow Jones News
AMSTERDAM—Royal Ahold NV on Thursday said its second-quarter net
profit rose 33% from a year earlier, as the Dutch supermarket
operator reaped the benefits of a strong performance from its
Albert Heijn chain at home.
Net profit rose to €195 million ($216 million) from €147 million
a year earlier, while sales rose 17% to €8.7 billion. Underlying
operating profit, which excludes the divestments and restructuring
charges, rose 15% to €331 million.
Ahold, which generates about two-thirds of its sales in the
U.S., benefited from the weakening of the euro against the U.S.
dollar, which provided a sharp increase to the value of its sales.
Excluding the impact of currency developments, sales rose 3%.
Ahold also attributed the increase to continued improvements at
its Albert Heijn chain in the Netherlands, where it recorded 4%
comparable sales growth, up from a 1.7% decline a year earlier. In
the U.S., where Ahold owns the Stop & Shop and Giant Landover
chains, comparable sales excluding gasoline rose 1.9%, compared
with a 1.7% decrease a year earlier.
This was Ahold's first earnings report since the announcement of
its planned $29 billion merger with Belgium's Delhaize Group, a
tie-up that would create one of the largest supermarket operators
in the U.S.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
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(END) Dow Jones Newswires
August 20, 2015 02:25 ET (06:25 GMT)
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