Dutch-Belgian retail giant Ahold Delhaize said Thursday that net profits soared in the third quarter as it unveiled its first combined earnings since its mega-merger. Growth in The Netherlands helped drive the "solid" performance, said the group, whose tie-up in July created one of the world's largest retail companies.
Net profit leaped 25 percent to 236 million euros ($252 million) compared to the third quarter in 2015, while sales surged more than 64 percent to 13.9 billion euros, it said. The Dutch retail giant Ahold and Belgian rival Delhaize finalised their merger in July after US regulatory authorities blessed their union with a green light.
Between them the firms have 6,500 stores in Europe and the United States and employ 375,000 people. "Despite challenging conditions in certain markets, Ahold Delhaize has delivered growth in sales and in underlying operating income on a pro forma basis which reflects the strength and resilience of our great local brands," chief executive Dick Boer said in the statement. Based in Zaandam just outside Amsterdam, Ahold announced in June 2015 it was merging with Delhaize.
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