Belgian group Delhaize has revealed strong revenue growth across all of its operating segments during the first quarter of 2011, although this was not enough to prevent an overall drop in year-on-year net profit.
Revenues climbed 0.7 per cent, or 1.5 per cent at actual exchange rates, up to €5.04bn from the €4.97bn recorded in the same period of 2010, while net profit from continuing operations dropped 3.2 per cent to €126m.
'In the first quarter of 2011, our group posted revenue growth in all operating segments,' said Pierre-Olivier Beckers, president and CEO of Delhaize Group. 'Comparable store sales trends continued to improve in the US, helped by retail inflation, while we continued to stay on price strategy. Alfa Beta continued to grow revenues and gain strong market share in a declining market.'
Revenues at Delhaize America increased by 0.1 per cent in dollar terms to US$4.7bn (1.2 per cent in euro terms to €3.4bn) despite the negative calendar effect of the run up to Easter of 0.9 per cent.
In Belgium, the group's revenue came to €1.2bn, growth of 0.9 per cent over the previous year, with comparable store sales fall despite labour disruptions at some stores.
Finally, the collective segment covering south-east Europe (Greece and Romania) and Asia (Indonesia) recorded increased revenues of 4.7 per cent to €468m.
