Ahold Delhaize 2Q Net Profit Beats Forecasts, Pauses Bol.com IPO
10 August 2022 - 4:53PM
Dow Jones News
By Ian Walker
Royal Ahold Delhaize NV on Wednesday raised its full-year
guidance after reporting a 12% rise in second-quarter net
profit--beating consensus forecasts--as it benefited from increased
market share and strong customer loyalty.
The Dutch grocer added that it no longer plans an initial public
offering of Bol.com given the current equity market conditions, but
will revisit the plan when conditions improve.
Royal Ahold made a net profit for the quarter of 603 million
euros ($615.9 million), compared with EUR540 million for the
year-earlier period and a consensus of EUR534 million, taken from
the company's website and based on 13 analysts' forecasts.
Net sales rose to EUR21.45 billion from EUR18.65 billion the
prior year, a rise of 6.4% on a constant-exchange basis. This
compares with a consensus of EUR21.04 billion, according to a
company-compiled consensus of 16 analysts' estimates.
Like-for-like U.S. net sales rose 7.7%, while European sales
climbed 4.2%, the company said.
Quarterly underlying earnings per share--which strips out
exceptional and other one-off items--rose to 59 European cents from
53 cents, up 1.8% on a constant-exchange basis, it said.
For the year ahead, the company expects mid-single-digit
underlying earnings-per-share growth, up from previous guidance of
matching 2021's EUR2.19.
The board has declared an interim dividend of 46 cents a share,
up from 43 cents.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 10, 2022 02:38 ET (06:38 GMT)
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