THE HAGUE, Netherlands – Recently-merged Dutch-Belgian supermarket giant Ahold Delhaize, operator of U.S. chains including Stop & Shop and Giant, says its operating profit rose 12 percent to 553 million euros ($602 million) in the first quarter compared with the pre-merger companies' combined profits in the same period last year.
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The company said Wednesday that, using the same basis of comparison, sales rose 3 percent to 15.8 billion euros ($17.2 billion) thanks in part to a strong performance in the Netherlands. In the United States, savings caused by synergies helped offset price deflation, the effect of poor weather and the timing of Easter.
CEO Dick Boer says that 10 months after Ahold and Delhaize merged, "we are fully on track with the integration and we are delivering on our synergy targets."