Ahold Delhaize 3Q Net Profit Rises 54% on U.S. Growth
08 Novembre 2017 - 7:51AM
Dow Jones News
By Dimitrios Kontos
Koninklijke Ahold Delhaize NV (AD.AE) reported Wednesday a 54%
rise in third-quarter net profit, citing strong performance in the
U.S., where its brands have gained market share.
The Dutch retailer, which has brands in 11 countries, made a net
profit of 362 million euros ($419.4 million) for the period
compared with EUR235 million a year earlier.
Net sales increased 7.4% to EUR15.13 billion, driven by strong
growth in consumer sales from the online businesses, the company
said.
Operating profit reached EUR545 million for the quarter compared
with EUR388 million a year earlier.
Ahold Delhaize said that it will start a new, EUR2.0 billion
share buyback program for 2018, following the completion of its
EUR1.0 billion program for 2017.
The company backed its guidance for full-year underlying
operating margin to be around 3.9%. It also confirmed that it
expects its free cash flow for 2017 to be around EUR1.6
billion.
It added that it expects free cash flow for 2018 to increase and
anticipates that capital expenditure to rise to EUR1.9 billion, as
it will continue to invest in growth.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
November 08, 2017 01:36 ET (06:36 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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