Delhaize Group Reports Strong Operating Profit Increase of 7.3% at
Identical Exchange Rates in the First Quarter of 2009
2009-05-06 08:16:04 -
London, May , 06, 2009
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| Financial Highlights First Quarter 2009 (at identical exchange |
| rates) |
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| » Revenue growth of 3.0% (13.2% at actual rates) |
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| » Comparable store sales growth of 2.0% in the U.S. and 1.7% in |
| Belgium |
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| » Operating margin increases from 4.6% to 4.8% (4.9% at actual |
| exchange rates) |
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| » Operating profit increase of 7.3% (20.2% at actual rates) |
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| Other Highlights |
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| » Confirmation of 2009 earnings guidance |
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» CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of
Delhaize Group, commented: "We are extremely pleased with the solid
performance of all our operating companies in the current difficult
environment. We generated positive comparable store sales growth and
supported our margins on both sides of the Atlantic through targeted
price management, the continued growth of private brand revenues and
improved inventory management. In particular, our ability to grow
market share in Belgium in this difficult environment is a clear sign
that our price repositioning is bearing fruit. "
"We are on target with our plans to improve our cost structure by EUR
100 million and to generate EUR 50 million in working capital
improvements this year. This will significantly enhance our
flexibility to reinvest in our business and support our
profitability. While we remain cautious for the rest of the year as a
result of the global economic uncertainty, our solid first quarter
performance and our plans for the rest of the year, lead us to
confirm our 2009 guidance."
» Contacts
Guy Elewaut: + 32 2 412 29 48
Geert Verellen: + 32 2 412 83 62
Aurélie Bultynck: + 32 2 412 83 61
Amy Shue (U.S. investors): +1 704 633 82 50 (ext. 2529)
Barbera Hoppenbrouwers (media): + 32 2 412 86 69
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