Dutch grocery giant Ahold has reported a 2.5% increase in third quarter sales to €6.9bn.

Profits during the period rose 5.3% to €300m.

It also performed particularly well in the US, where sales rose 8.5% to $5.8bn.

“We delivered another quarter of robust performance and gained market share in all of our major markets,” said Ahold CEO Dick Boer.

“Customers remain cautious in their spending and focus on value in an inflationary environment. We continue to adapt to the challenging market conditions, balancing sales and margins.”