Ahold books slight fall in first quarter profits

Food retail group Ahold, which owns the Albert Heijn supermarket chain, announced a slight fall in profits in the first quarter of 2007.

In its interim financial report published on Thursday morning, the group said it made a net profit of €241m, a drop of 2% compared the same period in 2006. The announcement was marginally higher than the €235m predicted by market analysts.
Reacting to the figures, Anders Moberg, Ahold CEO, said: ‘The first quarter showed an encouraging start to the year.’
Operational income was €421m, €3m lower the previous year and €12m lower than analysts had forecast. Income from retail operations was €383m, and the operating margin 4.4%.

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