Ahold Delhaize 1Q Profit Fell on Continued Coronavirus Costs
12 Mai 2021 - 8:43AM
Dow Jones News
By Matteo Castia
Koninklijke Ahold Delhaize NV said Wednesday that sales rose in
the first quarter but that the coronavirus pandemic continued to
generate sustained costs which hurt profitability.
The Dutch grocer made a first-quarter net profit of 550 million
euros ($668.3 million) compared with a restated EUR645 million for
the year-earlier period.
Net sales rose to EUR18.26 billion from EUR18.21 billion the
prior year. However, the company said it was hit by coronavirus
costs of EUR150 million in the period.
Net sales were up 5.8% on year on a constant-exchange basis. On
a like-for-like basis, U.S. and European net sales excluding gas
rose 16% and 18% over their 2019 comparables, respectively.
Quarterly underlying earnings per share came in at EUR0.54, down
8.4% on year but up 38% over the two-year-earlier period.
The company raised its full-year guidance for underlying
earnings per share to a range in the low to mid teens, up from the
previously forecast range of mid to high single digits.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
May 12, 2021 02:28 ET (06:28 GMT)
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