Ahold has announced an increase in quarterly profits in spite of the difficult market circumstances. The supermarket concern’s results, published before Amsterdam’s stock market opened this morning, were better than expected.
Turnover in the third quarter climbed 2.5 percent compared to the same quarter last year to 6.86 billion euros. The operational profit increased by over five percent to 300 million euros. Net profits went up more 15 percent to 257 million. The increase is partly thanks to a tax windfall.
Nevertheless, Ahold top man Dick Boer wrote in a press release, “Customers remain cautious in their spending and focus on value in an inflationary environment.”
In the AEX index, Ahold stocks increased by more than one percent. In spite of the supermarket concern’s good news, the Amsterdam stock exchange opened at a slight loss this morning, as did other European stock exchanges. Dutch investors are busy processing numerous company results as the latest figures are announced by companies.
(nc)
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