May 7, 2020 / 6:07 AM / a month ago

Ahold beats profit forecasts on food stockpiling

AMSTERDAM, May 7 (Reuters) - Food retailer giant Ahold Delhaize (AD.AS) beat expectations with a 38% rise in first-quarter core earnings on Thursday as shoppers stockpiled due to the coronavirus outbreak.

Underlying operating income rose to 961 million euros, topping the 878 million expected by analysts polled by the company.

Ahold maintained its 2020 outlook calling for profit margins broadly in line with 2019 and mid-single-digit growth in earnings per share. (Reporting by Anthony Deutsch; editing by Jason Neely)

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