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Ahold Delhaize profits increase thanks to higher revenues

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Koninklijke Ahold Delhaize NV on Wednesday announced an increase in underlying operating profit for the fourth quarter of 2020 due to higher revenues.

The Dutch grocer posted underlying operating profit of 811 million euros ($ 981.8 million) for the quarter, up 11% from the period a year earlier. The costs related to the coronavirus amounted to 210 million euros in the fourth quarter and 680 million euros for the whole of 2020, he added.

Net sales amounted to 19.60 billion euros, compared to 17.38 billion euros the previous year. Analysts predicted that figure would stand at € 18.59 billion.

The board declared an annual dividend of 90 European cents, down from 76 European cents a year earlier.

Underlying operating profit and sales for the year amounted to 3.59 billion euros and 74.74 billion euros respectively.

The company said it remains committed to its billion euro share buyback program, but that the initiative will continue to remain subject to macroeconomic developments and changes in the company’s operations such as that great acquisitions.

Ahold Delhaize added that he expects continued significant uncertainty this year due to the pandemic.

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