Ahold FY earnings come in below expectations, expands share buyback |
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Published
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Thu, 22 Mar 2007 08:10
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AMSTERDAM (AFX) - Royal Ahold NV reported earnings that came in below analysts expectations, although net profit was higher than consensus.Ahold announced that it will expand its previously announced share buyback programme to 3 bln eur from 2 bln - depending on the sale of US Foodservice.Full-year profit rose to 915 mln eur, higher than the 782.3 consensus and up from 159 mln eur in 2005, when earnings were impacted by one-offs.Sales were 44.9 bln eur, up from 44.5 bln eur but below the expected 45.3 bln eur consensus, while operating profit was 1.3 bln eur, up from 248 mln but below the 1.4 bln estimated.Ahold did not provide an update on the sale of US Foodservice, something which many analysts had hoped for.kaj.leers@thomson.comkel/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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