Delhaize Posts Drop In Q1 Underlying Operating Profit, Projects Decline In 2012 Profit

Delhaize Group DEG reported a 16.9% drop in its underlying operating profit in the first quarter. Delhaize expects its operating profit to decline 15% to 20% this year. Delhaize's quarterly underlying operating profit fell to 189 million euros ($248.6 million), versus analysts' estimates of 201 million euros. Delhaize's shares closed at $47.48 yesterday.