AMSTERDAM (dpa-AFX) - Ahold (AHODF.PK, AHONY.PK) posted first-quarter net income of 282 million euros, lower than 291 million euros reported a year ago.
Income from continuing operations for the quarter decreased to 284 million euros from 298 million euros in the same quarter a year earlier. The company noted that this was driven by a decrease of 28 million euros in operating income offset by an increase of 13 million euros.
Quarterly sales climbed to 9.72 billion euros from 9.25 billion euros in the prior year. At constant exchange rates, net sales rose by 1.9%. According to Ahold, overall, sales growth was impacted through a shift in holidays, mainly as a result of the timing of Easter where in 2011 the low-sales, post-Easter week fell in the second quarter.
Going ahead, chief executive officer Dick Boer, stated, 'As we said before, we expect 2012 to be another challenging year for the food retail industry, with intense competitive activity and consumer spending under pressure due to economic uncertainty, particularly in Europe. We remain confident that our strong brands are well positioned and are well on track to deliver on our strategy.'
Copyright RTT News/dpa-AFX
