Royal Ahold presents positive second-quarter results

Royal Ahold presents positive second-quarter results Amsterdam  - Netherlands-based food retailer Royal Ahold NV did better in the second quarter of 2009 than analysts had expected.

Releasing its quarterly results Thursday, the food retailer said sales went up 11 per cent - 4 per cent at constant exchange rates - in the second quarter.

Net profit was 195 million euros (278 million dollars) more than the 184 million euros expected by analysts but a 42.3-per-cent drop compared with the same period last year.

Operating profits were up 26 per cent to 295 million euros year-on-year.

Ahold emphasized last year's high net profit also included the 162-million-euro gain related to the divestment of its former subsidiary Schuitema.

Sales, which the company already published two weeks ago, increased 11.5 per cent compared with the same period last year and stood at 6.43 billion euros.

"We had a strong second quarter," CEO John Rishton said in a statement, adding Ahold remained "well positioned in an increasingly competitive environment." (dpa)