AD Koninklijke Ahold Delhaize NV

   By Ian Walker 
 

Koninklijke Ahold Delhaize NV (AD.AE) Wednesday reported a 15% rise in second-quarter net profit after booking lower expenses, and said it remains on track to deliver its strategy--building great local brands and strengthening leading positions in major markets.

The Netherlands-based grocer, which was formed in July 2016 from the merger of Ahold and Delhaize Group, made a net profit of 410 million euros ($476.5 million) for the period, compared with EUR355 million a year earlier, on sales of EUR15.53 billion ($18.01 billion) versus EUR16.12 billion a year ago.

U.S. net sales fell to EUR9.21 billion from EUR9.99 billion.

The company backed its merger synergies target of EUR420 million in 2018, and said it was confident of reaching EUR750 million of gross synergies in 2019.

It expects free cash flow in 2018 to be about EUR1.9 billion and said capital expenditure will increase to EUR1.9 billion to improve the group's stores and technology.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

August 08, 2018 01:28 ET (05:28 GMT)

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