Ahold Delhaize: quarterly results convince markets
(CercleFinance.com) - Dutch retailer Ahold Delhaize beat market forecasts on Wednesday, even though its third-quarter net profit fell slightly.
The company posted net profit of 453 million euros for July to September, down slightly from the 460 million euros announced a year ago.
However, operating income rose to 679 million euros, from 671 million a year ago.
Net sales in the Netherlands rose by 4.4% to 3.6 billion euros, with comparable sales growth of 3%.
In the third quarter, net sales in the United States grew by 2% at constant exchange rates to 10.25 billion euros.
Ahold Delhaize reiterated its 2019 outlook.
"The group's results in the US are continuing towards satisfactory top-line growth (...), with a margin maintained at profitable levels," said Parisian broker Invest Secutities, which has raised its target price from 29 euros to 29.4 euros.
The shares are currently up 3% at 23.8 dollars, outperforming a 0.5% rise in the Euro STOXX Retail index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company posted net profit of 453 million euros for July to September, down slightly from the 460 million euros announced a year ago.
However, operating income rose to 679 million euros, from 671 million a year ago.
Net sales in the Netherlands rose by 4.4% to 3.6 billion euros, with comparable sales growth of 3%.
In the third quarter, net sales in the United States grew by 2% at constant exchange rates to 10.25 billion euros.
Ahold Delhaize reiterated its 2019 outlook.
"The group's results in the US are continuing towards satisfactory top-line growth (...), with a margin maintained at profitable levels," said Parisian broker Invest Secutities, which has raised its target price from 29 euros to 29.4 euros.
The shares are currently up 3% at 23.8 dollars, outperforming a 0.5% rise in the Euro STOXX Retail index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.