Ahold has today announced a strong set of results for the second quarter of the year, with improvements in both group sales and overall profitability.
The Dutch group revealed that net sales increased 10.8 per cent at actual exchange rates – or 4.4 per cent at constant exchange rates – to €7.1bn (US$9bn), up from €6.4bn (US$8.1bn) in the same period of 2009.
As a result, net income for the second quarter climbed 3.1 per cent to €202m (US$255m), up from €196m (US248m) last year.
'We continued to grow sales, volumes and market share in the Netherlands and the United States while delivering solid financial results,' said Ahold chief executive officer John Rishton.
'Market conditions remained challenging with high levels of competitive promotional activity,' Mr Rishton Added. 'We are confident in our ability to continue to balance sales and margins while providing improved value to our customers.'
Net sales at Ahold USA jumped 5.5 per cent to €5.5bn (US$7bn), partly due to business acquisitions, with operating income at €270m (US$342m), up €22m (US$29m).
In the group's domestic market of the Netherlands, operating income increased by €9m to a total of €159m, boosted by sales growth of 4.4 per cent to €2.3bn.
Meanwhile, other European operations in the Czech Republic and Slovakia saw operating income come in a zero, compared with a loss of €39m last year, despite a sales drop of 1.6 per cent.
