US Foodservice helps Ahold's bottom line
Nov 1, 2006 12:00 PM
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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