US Foodservice helps Ahold's bottom line
Sep 15, 2006 7:42 AM, from staff and wire reports
Aided by its US Foodservice distribution unit, Netherlands-based Royal Ahold NV's second-quarter profit surged 60 percent, with stock shares hitting a three-year peak.
Net income at the supermarket retailer climbed to 219 million euros (US $281 million) from 137 million euros a year ago. US Foodservice's operating profit shot up 77 percent.
Ahold shares increased 24 cents, or 3.3 percent, to 7.59 euros recently—the highest level since October 2003. The stock has gained 20 percent this year after advancing 11 percent in 2005.
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