Schuitema, the Dutch supermarket group, has thanked a store revamp and a review of its real estate for rising first-quarter profits.

The company, in which UK private equity group CVC owns a 73% stake, booked operating profit of EUR28.9m (US$44.7m), a jump of 29%. Sales grew 3.3% to EUR1bn.

CEO Bert Roetert said: "The earnings of the first quarter are a positive development."

Majority control of the C1000 owner changed hands last month when CVC struck a deal for Ahold's stake in the business.

Ahold agreed to take on 58 Schuitema stores, a batch of real estate and receive EUR185m in cash.

Ahold will also get a 20% indirect stake in Schuitema, although it will not get a seat on the company's board.