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Ahold Delhaize: raises outlook for 2020

( - Ahold Delhaize has raised its outlook for 2020, now anticipating underlying EPS growth in the low-to-mid 20% range and free cash flow of at least 1.
7 billion euros.

In Q2, the Belgo-Dutch food retailer reported underlying EPS of 0.65 euro, up 88%, with an underlying operating margin of 5.3%, up 1.7% at constant exchange rates.

At 19.1 billion euros, net sales were up 17.1% on a reported basis and up 15.9% at constant exchange rates, with comparable and non-petrol sales growth of 20.6% in the US and 10.2% in Europe.

The market liked this outlook, with the share up over 5% in early trading.

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