Retail group Ahold booked net profit of €827m last year, down from 2011’s €1bn-plus net total, due to a number of one-off costs.
Without extra pension payments in the US and a tax setback in Sweden, net profit would have risen, the owner of the Albert Heijn supermarkets, Etos and Gall & Gall, said.
Sales in 2012 were up 8.5% at €32.8bn, the company said in a statement. The outlook for 2013 remains ‘cautious’.
Ahold also announced plans to buy back €500m-worth of shares.