The Dutch-Belgian food retailer Ahold Delhaize announced today that it had increased its net profit in the second trimester, thanks to strong sales, especially in the fast-growing online market.
A year after the merger, which created one of the leading global supermarket chains, the group's net profit jumped by 68.2% to EUR 355 million, AFP reports.
The group increased the targeted expenditure savings by 2019 on the basis of a strong growth of business results.
– We expect to achieve gross synergies of EUR 750 million by 2019, of which EUR 250 million will be reinvested in our brands – said Dick Boer, CEO of Ahold Delhaize in a press release forwarded from the company's seat near Amsterdam.
The sales grew by 67.3% to EUR 16.1 billion in the second quarter, Boer added.
The group expects close to EUR 3 billion from online sales in 2017, whereas e-market sales in the amount of EUR 5 billion are planned by 2020.
Ahold and Delhaize finalized the merger in July 2016, following the approval by American regulatory authorities.
The two companies have 6,500 stores in Europe and the US, among which are such chains such as Giant and Food Lion, and they employ a total of 370,000 people, AFP adds.