Weak dollar hits Ahold’s turnover

25 January 2008

AMSTERDAM – Supermarket giant Ahold saw turnover of EUR 6.6 billion in the fourth quarter of last year. This represents barely any growth in turnover compared to the same period a year earlier.

Ahold announced this on Friday. The supermarket company was hard hit by the low dollar rate compared to the euro. Without the currency effect turnover would have risen by 6.5 percent.

For the year as a whole turnover came to EUR 28.2 billion, an increase of 1.2 percent. Discounting the effect of currency fluctuations turnover would have grown 6.1 percent.

Ahold expects its gross profit margin in the retail branch to be at the top end of 4 to 4.5 percent for 2007, as it has announced earlier. The company will announce its complete annual figures on 6 March.

[Copyright Expatica News + ANP 2008]

Subject: Dutch news