Belgium: Delhaize raises forecast after strong Q2
For the quarter, adjusted operating profit rose 5.8% to €193m, while overall revenues were up 0.6% to €5.3bn. Adjusting for currency fluctuations and one-offs, revenues grew by 1.9%, with like-for-like growth of 1.7%.
In the US, sales were up 0.4% to €4.25bn, although they were down 1.4% in Euro terms, with LFL sales up 1.1%. The results marked the third straight quarter of volume growth in the US, which Delhaize attributed to its ongoing store revamp programme and better price focus.
In Belgium, revenues grew by a modest 2.9% to €1.26bn (LFL +0.4%), and the group said it grew market share as well. Finally, its operations in Southeastern Europe recorded a 5.3% rise to €787m, helped by expansion in Romania and Greece, with market share growth as well.
Delhaize said it now expects an adjusted operating profit of at least €780m for the full year, up from the €775m it forecast in May.
Source: www.kamcity.com
