Ahold Posts Rise In Q3 Profit

Royal Ahold NV

reported a 7.9% gain in its net profit for the third quarter. Ahold's quarterly net profit rose to EUR178 million, from a year-ago profit of EUR165 million. Its earnings per share climbed to 0.20 euros from 0.16 euros. Its sales surged 1.9% to EUR7.47 billion from EUR7.33 billion. Net sales at Ahold USA rose 0.4% to €4,501 million, while net sales at The Netherlands gained 1.4% to €2,604 million. The company's operating income rose 9.2% to 274 million euros, while on an underlying basis, operating income slipped 5% to 285 million euros. Net debt rose by €420 million to €1,475 million during the quarter. CEO Dick Boer said: "This quarter we reported improved sales trends in the United States and the Netherlands while our margin was stable versus the prior quarter, excluding the impact of the SPAR acquisition.” Ahold shares fell 0.93% to close at $17.08 yesterday.