Ahold reports profits leap

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Dutch food retailer Ahold reported on Thursday a 45.7-percent jump in first-quarter net profit to 274 million euros (337 million dollars), slightly exceeding the outcome expected by analysts.

Experts polled by Dow Jones Newswires had forecast a net profit of 270 million euros.

Sales rose by 1.0 percent on a 12-month comparison to 8.74 billion euros, and operating profit rose by 3.3 percent to 409 million euros.

Ahold owns 3,500 stores and employs about 140,000 people in 11 countries in Europe and North America.

© 2010 AFP

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