Ahold beats forecasts
Source: Agencies |
August 21, 2009, Friday
|
Print Edition
Print Edition
ROYAL Ahold NV, the Dutch operator of US grocery chains Stop & Shop and Giant, yesterday reported a 42 percent fall in net profit for the second quarter due entirely to the sale of operations in the previous year.
Analysts said the results beat expectations, and shares rose 3.5 percent to 8.434 euros.
Net profit was 195 million euros (US$278 million), down from 336 million euros in the same quarter a year earlier, when Ahold booked a 162 million euro gain from the sale of its Schuitema stores in Europe.
Ahold said that, stripping out the impact of discontinued operations in both years, profits would have risen 8.5 percent. Sales rose 11 percent to 6.43 billion euros, and the company managed to improve margins to 4.8 percent from 4.3 percent despite the economic downturn.
Ahold's strategy in the US, where it generates two-thirds of sales, has been to offer "value," meaning relatively cheap prices for good-quality groceries. CEO John Rishton said the company was "well positioned" to increase profits in future quarters.
Analysts said the results beat expectations, and shares rose 3.5 percent to 8.434 euros.
Net profit was 195 million euros (US$278 million), down from 336 million euros in the same quarter a year earlier, when Ahold booked a 162 million euro gain from the sale of its Schuitema stores in Europe.
Ahold said that, stripping out the impact of discontinued operations in both years, profits would have risen 8.5 percent. Sales rose 11 percent to 6.43 billion euros, and the company managed to improve margins to 4.8 percent from 4.3 percent despite the economic downturn.
Ahold's strategy in the US, where it generates two-thirds of sales, has been to offer "value," meaning relatively cheap prices for good-quality groceries. CEO John Rishton said the company was "well positioned" to increase profits in future quarters.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
