Brussels, Belgium-
By ANUK Staff
3.8.13
Belgian retailer, Delhaize Group has reported a loss in profits for the full year 2012. Operating profits fell by over 56% to over $507 million. EBITDA dropped by 18.3% to just under $1.7 million.
Income from continuing operations fell by 78.9 percent to, while revenue rose 2.9% to $29,581 million for the year.
Delhaize attributed the income decline to "the portfolio optimization charge in the first quarter, the impairment charge in the fourth quarter and a decline in operating profit which were partially offset by the resolution of tax matters."
Revenues at Delhaize America fell 2.2 % during 2012 to $18.8 billion (€14.6 billion) and underlying operating profit saw a 23.5 % slump to $705 million (€549 million).
“In 2013, we will remain focused on accelerating the progress at Food Lion, revitalizing Delhaize Belgium and driving growth in south-eastern Europe. We aim to remain relevant to our customers, continuing our sustainable price policies and accelerating revenue growth," said CEO Pierre-Olivier Beckers.
