Ahold Third Quarter Net Earnings Rise 28.3%
ZAANDAM, The Netherlands - Ahold, the international food retail and food service company, today released third quarter 2001 net earnings of Euro 333.1 million, an increase of 28.3% from the third quarter in 2000. Sales rose 12.6% to Euro 15.5 billion, and operating earnings increased by 21.7% to Euro 667.2 million.
Ahold's third quarter is made up of 12 weeks from July 16 through October 7.
Ahold President and CEO Cees van der Hoeven said, "With an organic sales growth of 6.4% and an organic operating earnings growth of 16.4%, our company proved its capability to also perform well in somewhat weakened economic conditions. Particularly in the United States, retail and foodservice achieved very good results. In Europe results were also solid. Notwithstanding difficult circumstances, our Latin American operations performed well. We gained market share practically everywhere, while simultaneously
achieving strongly improved operating margins."
Van der Hoeven said Ahold delivered its 23rd consecutive quarter of double-digit earnings per share growth. He expressed satisfaction at the substantial synergies achieved worldwide and within the regions. He commented on the earlier announced U.S. acquisitions of Alliant Foodservice and Bruno's Supermarkets and on the joint venture with CSU in Central America: "We are very pleased about the prospect of completing these transactions in such a short time-frame. The companies will be contributing to our full-year 2002 results."
Ahold's third quarter is made up of 12 weeks from July 16 through October 7.
Ahold President and CEO Cees van der Hoeven said, "With an organic sales growth of 6.4% and an organic operating earnings growth of 16.4%, our company proved its capability to also perform well in somewhat weakened economic conditions. Particularly in the United States, retail and foodservice achieved very good results. In Europe results were also solid. Notwithstanding difficult circumstances, our Latin American operations performed well. We gained market share practically everywhere, while simultaneously
achieving strongly improved operating margins."
Van der Hoeven said Ahold delivered its 23rd consecutive quarter of double-digit earnings per share growth. He expressed satisfaction at the substantial synergies achieved worldwide and within the regions. He commented on the earlier announced U.S. acquisitions of Alliant Foodservice and Bruno's Supermarkets and on the joint venture with CSU in Central America: "We are very pleased about the prospect of completing these transactions in such a short time-frame. The companies will be contributing to our full-year 2002 results."