AD Koninklijke Ahold Delhaize NV

By Ian Walker

Koninklijke Ahold Delhaize NV (AD.AE) on Wednesday reported a 27% rise in third-quarter net profit, beating analysts forecasts.

The Netherlands-based grocer made a net profit of 459 million euros ($525.6 million) for the period, compared with EUR362 million a year earlier, on sales that rose to EUR15.78 billion from EUR15.14 billion a year ago.

U.S. net sales rose to EUR9.61 billion from EUR9.22 billion a year earlier, it said.

Consensus net income was EUR418 million, taken from the company's website and based on 17 analysts estimates. Net sales were forecast at EUR15.51 billion, also taken from the company's website and based on 21 analysts forecast.

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.

Ahold expects free cash flow in 2018 to be at least EUR2.0 billion, up from previous guidance of EUR1.9 billion, and capital expenditure is expected to be EUR1.8 billion, compared with previous guidance of EUR1.9 billion.

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

(END) Dow Jones Newswires

November 07, 2018 01:19 ET (06:19 GMT)

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