Ahold Delhaize: quarterly earnings fail to impress investor
(CercleFinance.com) - Supermarket operator Ahold Delhaize reported "strong" fourth quarter earnings on Wednesday and raised its dividend, although its report failed to inspire investors.
The Dutch-based company said net sales grew by 3% at constant exchange rates to 6.5 billion euros in the last three months of 2018, thanks to continued good momentum in the US and solid growth in the Netherlands
Operating income rose to 627 million euros, up 9.1% at constant exchange rates.
"In 2018 we essentially completed the merger integration process and delivered on the synergies we promised," said Frans Muller, CEO of the food retail group.
As a reminder, the company was formed in 2016 by the merger of the Dutch company Ahold and Belgian group Delhaize.
The retailer proposed a dividend of 0.70 euro, up 11% compared to the dividend for the previous year.
For 2019, it said it expects to report high single-digit growth in underlying income per share from continuing business, although this comment failed to lift investor spirits.
Ahold Delhaize shares are currently down 2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Dutch-based company said net sales grew by 3% at constant exchange rates to 6.5 billion euros in the last three months of 2018, thanks to continued good momentum in the US and solid growth in the Netherlands
Operating income rose to 627 million euros, up 9.1% at constant exchange rates.
"In 2018 we essentially completed the merger integration process and delivered on the synergies we promised," said Frans Muller, CEO of the food retail group.
As a reminder, the company was formed in 2016 by the merger of the Dutch company Ahold and Belgian group Delhaize.
The retailer proposed a dividend of 0.70 euro, up 11% compared to the dividend for the previous year.
For 2019, it said it expects to report high single-digit growth in underlying income per share from continuing business, although this comment failed to lift investor spirits.
Ahold Delhaize shares are currently down 2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.