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BRIEF-Ahold Delhaize Q1 net income increased by 72.8 pct to 356 million euros
May 10, 2017 / 5:13 AM / 5 months ago

BRIEF-Ahold Delhaize Q1 net income increased by 72.8 pct to 356 million euros

May 10 (Reuters) - KONINKLIJKE AHOLD DELHAIZE NV:

* REPORTS HIGHER MARGINS WITH STRONG SYNERGY DELIVERY AND RESILIENT SALES

* Q1 PRO FORMA UNDERLYING OPERATING INCOME INCREASED BY EUR 45 MILLION TO EUR 604 MILLION ($657.8 MILLION), UP 8.1 PCT

* Q1 NET INCOME INCREASED BY 72.8 PCT TO EUR 356 MILLION (UP 68.2 PCT AT CONSTANT EXCHANGE RATES)

* Q1 NET SALES EUR 15.9 BILLION VERSUS EUR 9.6 BILLION YEAR AGO

* IN THE FIRST QUARTER OF 2017, PRO FORMA NET SALES IN BELGIUM WERE EUR 1,181 MILLION, DOWN 1.1 PCT VERSUS LAST YEAR, WITH COMPARABLE SALES GROWTH DOWN 0.6 PCT

* IN THE FIRST QUARTER OF 2017, PRO FORMA NET SALES IN CENTRAL & SOUTHEASTERN EUROPE INCREASED BY 4.4 PCT TO EUR 1,375 MILLION AT CONSTANT EXCHANGE RATES

* IN THE FIRST QUARTER OF 2017, PRO FORMA NET SALES AT AHOLD USA DECREASED BY 1.4 PCT AT CONSTANT EXCHANGE RATES TO EUR 5,969 MILLION

* IN THE FIRST QUARTER OF 2017, PRO FORMA NET SALES AT DELHAIZE AMERICA INCREASED BY 0.1 PCT TO EUR 3,943 MILLION AT CONSTANT EXCHANGE RATES

* FOR THE FIRST QUARTER OF 2017, PRO FORMA NET SALES IN NETHERLANDS WERE EUR 3,298 MILLION, AN INCREASE OF 3.9 PCT COMPARED WITH LAST YEAR

* IN THE UNITED STATES, WE EXPECT SALES PERFORMANCE TO IMPROVE IN THE SECOND QUARTER AND TO OPERATE IN A SLIGHTLY INFLATIONARY ENVIRONMENT IN THE SECOND HALF OF THE YEAR

* REITERATES TARGET OF REALIZING EUR 220 MILLION NET SYNERGIES, INCLUDING EUR 56 MILLION REALIZED YEAR TO DATE

* EXPECTS FULL YEAR 2017 UNDERLYING OPERATING MARGIN FOR THE GROUP WILL INCREASE COMPARED TO 2016

* WE EXPECT FREE CASH FLOW FOR THE YEAR 2017 TO BE EUR 1.6 BILLION, AFTER EUR 1.8 BILLION OF CAPITAL EXPENDITURE Source text: bit.ly/2pxQ1DN Further company coverage: ($1 = 0.9182 euros) (Gdynia Newsroom)

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