Royal Ahold Delhaize Reports Forecast-Beating 4Q Net Profit

By Ian Walker

Royal Ahold Delhaize NV on Wednesday reported a 28% rise in fourth-quarter net profit, beating forecasts, and said it expects underlying EPS for th year ahead to be around 2022 levels.

The Dutch grocer made a net profit for the quarter of EUR809 million, compared with EUR634 million for the year-earlier period and a consensus of EUR589 million, taken from the company's website.

Net sales rose to EUR23.36 billion from EUR20.15 billion the prior year, a rise 8.1% on a constant-exchange basis. This compares with a consensus of EUR23.29 billion.

Like-for-like U.S. net sales excluding gas rose 9.3%, while European sales climbed 5.7%, the company said.

Quarterly underlying earnings per share--which strips out exceptional and other one-off items--rose to 72 European cents from 59 European cents, up 14% on a constant-exchange basis, it said. For the year as a whole underlying EPS rose 7.9% at constant exchange rates to EUR2.55

The board has declared a dividend of EUR1.05 a share, up from 95 European cents in 2021.

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(END) Dow Jones Newswires

February 15, 2023 02:17 ET (07:17 GMT)

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