Dutch retailer Ahold Delhaize has announced the postponement of its planned IPO of e-tailer Bol.com.
The company had originally planned for an IPO in the second half of the current fiscal year, but has now said it will “revisit” the plan “when equity market conditions are more conducive”.
The news came as Ahold reported net sales of 21.4 billion euros in the second quarter, up 15 percent, or up 6.4 percent at constant exchange rates.
The company said sales accelerated in both regions compared to Q1, up 7.7 percent in the US and up 4.2 percent in Europe at constant rates.
Net income came in at 603 million euros, up from 540 million euros a year earlier.
Based on its results, Ahold raised its full-year outlook, and now expects underlying earnings per share to grow year-on-year at a mid-single-digit rate, versus its original outlook of a low- to mid-single-digit decline.
