ID NEWS: Ahold adjusts timetable for strategy statement; 21 USF managers reportedly suspended pendin

Royal Ahold, Zaandam, The Netherlands, has published its financial reporting schedule for the remainder of this calendar year, following the release last week of its thrice-delayed revised 2002 financial results (ID web news 10-3-03).

Ahold's 20-F filing with the Securities and Exchange Commission will take place October 15, third quarter 2003 sales will be reported on October 28 and fourth-quarter 2003 sales results on January 9, 2004, and the 2002 annual report will be published this October 31. Earnings restatement of half-year results and a strategy statement will be made on November 7.

"Resources at Ahold were stretched to the limit to provide shareholders with the 2002 financial results," comments Hannu Ryopponen, cfo. "Preparing the next sets of financial data will require sufficient time to ensure that they are completed with the degree of thoroughness and precision expected by shareholders. We recognize that some of the dates may differ from those suggested at the presentation of our 2002 results on October 2, 2003. However, the timetable we've proposed is both reasonable and achievable and in the interests of all our shareholders."

Separately, Ryopponen is quoted by the Baltimore Sun's online publication as saying that, during the last week, Ahold suspended 21 people in middle and lower management at its Columbia, MD, based U.S. Foodservice (USF) subsidiary, pending the outcome of an internal investigation resulting from the accounting irregularities there.
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