Dutch supermarket operator and wholesaler Sligro has booked a 25.2% drop in operating profit as intense price competition and challenging economic conditions weighed on margins.

The firm revealed this morning (19 July) that net profit dropped 22.6% in the period, declining to EUR26m (US$32m).

However, the group’s focus on competitive pricing saw sales rise 2.1%, driven by like-for-like gains.  

CEO Koen Slippens said the firm was “dissatisfied” with the result. The group said it would look to improve its second half preformance, but conceeded that this presents a “tough challenge” given the extreemely competitive nature of the Dutch market.

Click here for just-food’s interview with Sligro CFO Hubb van Rozendaal