International food giant Ahold has plunged into the red after incurring hefty exceptional costs from restructuring its Argentinian operations.
Ahold boss Cees van der Hoeven said the loss was "incidental and not structural," and emphasised that underlying performance at Ahold remained solid. In the current "challenging financial and trading environment," Ahold would be focusing on organic growth and margin improvement rather than acquisitions, he added.
Ahold posted a second quarter net loss of E198m against E329m for thge same period last year, on sales up 7.3% to E17.3bn.

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