Ahold Delhaize, a supermarket company formed in July 2016 by the merger of Dutch retailer Ahold and Belgian chain Delhaize, reported 68% rise in its second-quarter net profit.
The retailer reported net income of 355 million euros and 3.4% rise in sales up to 16 billion euros at the time of the merger.
Company’s sales rose 5.6 in The Netherlands, whereas sales in Belgium were virtually flat.
Ahold Delhaize also operates the Stop & Shop, Giant supermarket and some other chains in the United States.
The merger will help the company to save up to 750 million euro in 2019? according to Ahold Delhaize’s statement. The company is planning to reinvest 250 million euros into its own brands.
"We look toward the second half of the year with confidence and expect our underlying operating margin for the full year 2017 to be broadly in line with the first half of the year," Chief Executive Dick Boer said in a statement.