Ahold Delhaize reports second quarter core profit beat
Second Quarter Financial Performance Overview
Aug 5 (Reuters) - Supermarket group Ahold Delhaize reported second-quarter core profit above market expectations on Wednesday, citing strong cost management and market-share gains in its main markets.
Management Commentary
"This balanced approach enabled us to navigate macroeconomic and geopolitical pressures and absorb the majority of costs from higher energy prices," Chief Executive Frans Muller said in a statement.
Financial Results
Underlying Operating Income
The Dutch group, which runs the Albert Heijn and Delhaize chains in the Netherlands and Belgium, said underlying operating income fell 0.3% at constant exchange rates to 906 million euros ($1.05 billion), above the 885 million euros expected by analysts polled by the company.
Cost Pressures
Energy and Transport Costs
Rising energy and transport costs have become a growing concern for retailers following disruption to shipping routes and higher oil prices linked to tensions in the Middle East.
($1 = 0.8669 euros)
(Reporting by Dimitri Rhodes in Gdansk; Editing by Matt Scuffham)
