Supermarket group Ahold announced on Thursday net profit of €199m for the first half of 2011, slightly down on the year earlier €202m. Turnover dropped 3.5% to €6.9bn.

Operating income at €275m was also down, mainly because of increased raw material prices and unfavourable exchange rates.
Ahold also announced an acceleration of the €1bn share buy-back programme and expects the buy-back to be completed by March 2012.