Belgium-based food retailer Delhaize has seen the weak US dollar weigh on the business during the first half of the year.
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The company, which has operations in seven countries including the US, said today (9 August) that revenue had dipped by 0.4% to EUR9.5bn (US$13bn) in the six months to the end of June.
Delhaize said sales had slipped due to a 7.5% fall in the value of the US dollar during the first half of the year.
Stripping out the effect of currency fluctuations, sales climbed 5.3% due to a rise in turnover in Belgium, the US and Greece.
Looking at the bottom line, operating profit rose 5.2% to EUR478.6m; at constant exchange rates, earnings leapt almost 12%.
President and CEO Pierre-Olivier Beckers said Delhaize is “confident” that the company would post full-year results at the “higher end of our guidance range”.
Delhaize has forecast revenue growth of up to 5.5% and for profits to rise by up to 8%.
