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Ahold 2Q profit surges
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September 2, 1999: 9:49 a.m. ET
Dutch retailer buoyed by Americas; eyes more U.S., Europe acquisitions
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LONDON (CNNfn) - Ahold, the Dutch supermarket operator, posted a 40.6 percent rise in second-quarter profit Thursday and said it was still looking at acquisition targets in Europe and the United States.
However, Europe's second-largest retailer made no comment on Monday's merger between France's Carrefour (PPE) and Promodès (PCA). Promodès had been seen as a possible target for the Dutch firm. Europe's retail sector is consolidating in the wake of rapid expansion in the region by Wal-Mart (WMT).
Ahold said net earnings climbed to 172.9 million euros ($183 million) from 123 million a year earlier, just ahead of analysts' expectations. The company said full-year earnings would rise around 20 percent.
Operating profit in the second quarter rose 42.3 percent to 321.4 million euros, and sales advanced 34.5 percent to 7.89 billion euros.
The Americas provided the strongest contribution in the quarter, with U.S. sales up 35 percent. Ahold has made a string of U.S. acquisitions, including the Giant supermarket group based in the mid-Atlantic states. Its Latin American business more than doubled.
Dutch sales advanced just 5 percent, while those in other European states were up 33 percent. and Latin America.
Ahold shares were down almost 1 percent at 34.15 euros in afternoon trading on an Amsterdam exchange off almost 2 percent. 
-- from staff and wire reports
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