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.
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.
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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."