Ahold Delhaize: reports higher earnings; shares up
(CercleFinance.com) - Dutch-based supermarket group Ahold Delhaize said it increased its quarterly sales and earnings, boosted by the renewal of its store network and investment in digital.
The company's shares, which have risen by 16% since the beginning of the year, are currently up 5% at 21.4 euros after it reported third-quarter sales of 15.8 billion euros, up 3.6% at constant exchange rates.
The Zaandam-based food group - which operates the Stop & Shop chain in the US and the Albert Heijn franchise in the Netherlands - said net income was up 26.7% to 459 million euros.
Its underlying operating margin rose by 0.2 point to 4.1%, boosted by synergies, the company said.
The retailer confirmed its target of realising net synergies of 420 million euros in 2018, while remaining committed to delivering net synergies of 500 million euros in 2019, helped by the integration of both companies.
Ahold Delhaize also said it that in 2018 it expects free cash flow to exceed its previous guidance of 1.9 billion euros, reaching at least 2 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company's shares, which have risen by 16% since the beginning of the year, are currently up 5% at 21.4 euros after it reported third-quarter sales of 15.8 billion euros, up 3.6% at constant exchange rates.
The Zaandam-based food group - which operates the Stop & Shop chain in the US and the Albert Heijn franchise in the Netherlands - said net income was up 26.7% to 459 million euros.
Its underlying operating margin rose by 0.2 point to 4.1%, boosted by synergies, the company said.
The retailer confirmed its target of realising net synergies of 420 million euros in 2018, while remaining committed to delivering net synergies of 500 million euros in 2019, helped by the integration of both companies.
Ahold Delhaize also said it that in 2018 it expects free cash flow to exceed its previous guidance of 1.9 billion euros, reaching at least 2 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.