Ahold results better than expected

Dutch group Ahold, owner of the largest supermarket chain in the Netherlands (Albert Heijn) has announced better than expected results.

Ahold published its results for the third quarter showing turnover up 6.9% (6.85 billion euros) and net income up 15.2% to 257 million euros. The group generates approximately 60% of its sales in the U.S.

Despite difficult market conditions, rising food prices and market share gains have boosted sales. Sales in the U.S. rose 8.5%, the Netherlands 4.5% and the Czech Republic and Slovakia 3%.

Ahold owns about 3,000 stores in North America (Stop & Shop, Martin's Food Markets, Giant-Landover, Giant-Carlisle, Tops, US Foodservice, Peapod) and Europe (Albert, Albert Heijn, Gall & Gall, Hypernova, Etos, Schuitema, ICA AB, Jerónimo Martins).

source : romandie, boursier