BELGIUM: Delhaize posts increase in H1 profit

By: just-food.com | 6 August 2009
  • Net profit increased 15.4% on previous year
  • Revenue boosted by strength of US dollar
  • Confirmed full-year guidance

Delhaize, the Belgium-based retailer, posted an increase in first-half profit today (6 August) and reaffirmed its full-year guidance.

Net profit for the six-month period reached EUR252m (US$362.8m), a 15.4% increase on the previous year.

Operating margin climbed by 22.9% at actual exchange rates to EUR491m.

For the first half, Delhaize posted revenue growth of 3.6% at identical exchange rates. At actual exchange rates, revenues increased by 13.8% to EUR10.2bn due to the strength of the US dollar against the euro.

Delhaize confirmed its full-year guidance but said its profit growth will be mostly generated in the first half of 2009 due to lower expected inflation in the second half of the year.

Click here for the full half-year release from Delhaize. Return for further comment from CEO Pierre-Olivier Beckers later.

Sectors: Retail

Companies: Delhaize

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