The Associated Press reports that Henny de Ruiter, Ahold’s supervisory board chairman since the forced departure of CEO Cees van der Hoeven, has pledged that the company will not post a net loss for 2002, despite the fact that the company will have to cut $500 million (US) from its earnings statement.
The earnings cut came because of accounting irregularities at Ahold’s US Foodservice division.
Ahold’s posting of 2002 results has been delayed by the accounting scandal. A May 1st report is expected, though that could change.
Reuters reported yesterday that analysts familiar with the Brazilian market seem to think that Ahold is likely to sell off its two business units there.
The earnings cut came because of accounting irregularities at Ahold’s US Foodservice division.
Ahold’s posting of 2002 results has been delayed by the accounting scandal. A May 1st report is expected, though that could change.
Reuters reported yesterday that analysts familiar with the Brazilian market seem to think that Ahold is likely to sell off its two business units there.
- KC's View:
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Such a move would both generate badly needed cash for Ahold, as well as satisfy the consolidation monster that seems to be feeding in the business world these days.
Beyond that, it is hard to imagine that the company will still have a profit for 2002 under the circumstances, but he certainly has the inside track on the numbers.
