Ahold has published its results for the fourth quarter and full-year of 2011, with higher sales and net income across the board for the Dutch retailer.
According to the group, fourth quarter sales climbed 4.3 per cent to €7.3bn, with operating income for the period up 11.2 per cent to €328m.
For the full 12 months, the retailer noted that net income had jumped 19.2 per cent, up to €1bn, while sales rose 5.5 per cent.
'We are pleased with our performance in the fourth quarter, delivering solid results in the United States and the Netherlands,' said group CEO Dick Boer. '2011 was a successful year for Ahold and we grew sales by 5.5 per cent at constant exchange rates and net income by 19 per cent under challenging economic circumstances.
'We launched our new strategy to reshape Ahold, taking advantage of rapid changes in consumer behaviour, shopping trends and the retail landscape,' he added. 'We achieved our cost reduction targets a year ahead of time and announced a new €350m cost savings programme for the next three years.'
Boer noted that the group was proposing a 38 per cent increase in its dividend to €0.40 per share, but warned of a challenging year for the food industry in 2012 with intense competition and further economic difficulty.
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