Delhaize Group Reports Higher Revenues and Operating Profit Growth in the Third Quarter of 2011
(Thomson Reuters ONE) -
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Financial Highlights Third Quarter 2011 (at identical exchange rates)
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» Group revenue growth of 6.6% (+3.4% excluding Delta Maxi)
» U.S. comparable store sales growth increased to 1.9%
» Strong revenue growth in SEE & Asia segment of 49.2% (+11.0% excluding Delta
Maxi)
» Group operating profit growth of 1.8% (+3.4% excluding Delta Maxi);
resilient Group operating margin of 4.5% (4.7% excluding Delta Maxi)
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Other Highlights
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» Completed Delta Maxi acquisition and consolidated results as from August
1, 2011
» Successful retail bond issue raised EUR 400 million in October to support
New Game Plan execution and refinance Delta Maxi debt
» Capital expenditures guidance for 2011 of EUR 820-840 million, including EUR
40 million for Delta Maxi
» CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group,
commented: "The third quarter was a period of accelerated top line growth. We
are particularly pleased with the performance of our operations in Southeastern
Europe where Alfa Beta in Greece and Mega Image in Romania generated strong
profitable revenue growth in a difficult environment."
"That we are pulling the right levers is evidenced by the momentum in the
rebranded Food Lion markets that continue to deliver excellent results and
outperform the rest of the network. At the same time, the economic environment,
especially in the Southeast of the U.S., continues to weigh on customer
sentiment and their spending behavior."
"It is strategically important for us to continue executing the long-term
choices of the New Game Plan. However, looking ahead, we need to be mindful of
the fact that business conditions across our markets became tougher towards the
end of the quarter as it is increasingly difficult to pass on higher cost
inflation to retail prices. We expect this environment will continue to have an
impact on the remainder of the year."
» Contacts
Geert Verellen: + 32 2 412 83 62
Aurélie Bultynck: + 32 2 412 83 61
Steven Vandenbroeke (media): +32 2 412 86 69
Amy Shue (U.S. investors): +1 704 633 82 50 (ext. 2529)
Press release in pdf format:
http://hugin.info/133961/R/1562672/484189.pdf
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Source: Delhaize Group via Thomson Reuters ONE
[HUG#1562672]
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 86294
Anzahl Zeichen: 3475
contact information:
Town:
Brussels
Kategorie:
Business News
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