Swedish supermarket chain ICA Ahold, which is 50% owned by beleaguered Dutch retail giant Royal Ahold, has reported 2002 net profit of SKr1.71bn (US$204.4m), compared to SKr1.23bn for 2001.

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The Swedish retailer said its pre-tax profit increased to SKr2.41bn in 2002 from SKr1.91bn the year before. The company posted 2002 net turnover of SKr70.9bn, up from SKr65.0bn in the previous year.


“ICA Ahold’s operations, profit and financial position are not affected by the events in Royal Ahold,” ICA said in a statement.


“The partnership and joint projects with Royal Ahold continue,” the company added.


“We don’t think that ICA Ahold is at the top of Ahold’s for sale list, if there is one. We are the Ahold unit that generates the best return.” ICA Ahold Chairman Claes-Goran Sylven told Reuters.

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