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Delhaize Group (EBR:DELB) Financial Highlights Third Quarter 2008 (at identical exchange rates)
* Solid revenue growth of +4.8% * Significant comparable store sales growth both in the U.S. (+2.5%) and in Belgium (+3.7%) * Double-digit revenue growth in Greece (+13.1%) and in Romania and Indonesia (+40.6%) * Operating profit growth of +8.3% * Group share in net profit increase of +4.2%
Other Highlights
* Confirmation of our 2008 guidance * Free cash flow of EUR 113.1 million during the third quarter * Net debt to equity ratio decreases to 58.9%
CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: "During the third quarter, our revenues grew at a solid pace at all of our operations in spite of the ongoing difficult consumer environment. We are effectively managing within the current environment while pursuing our long-term strategic choices. The continued success of our private label products and our commitment to competitive pricing through cost savings initiatives have contributed to our improving sales momentum. Our solid sales performance, careful expense management and strong balance sheet, along with sufficient liquidity to finance our projected cash needs, allow us to manage our Company with confidence in these challenging times and confirm our guidance."
