By Michael Susin

 

Royal Ahold Delhaize raised its full-year cash-flow guidance after reporting better-than-expected net sales in second-quarter that were supported by growth in loyalty and online sales, while net profit came in below expected.

The Dutch grocer reported on Wednesday a net profit for the quarter of 468 million euros ($512.9 million) compared with EUR603 million for the year-earlier period and a consensus of EUR564 million, taken from the company's website and based on 18 analysts' forecasts.

Net sales rose to EUR22.07 billion from EUR21.45 billion the prior year. This compares with a company-compiled consensus based on 20 analysts' forecasts of EUR22.05 billion.

Looking ahead, Ahold expects free cash flow in a range from EUR2.0 billion to EUR2.2 billion compared with the previous target of around EUR2 billion.

The board has declared an interim dividend of 0.49 cents a share, up from 46 cents a year ago.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

August 09, 2023 02:30 ET (06:30 GMT)

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