Dutch retail giant Ahold has seen its profits for the three months from July to September rise more than 17%, and says the full year should meet expectations of a 15% rise in earnings.

Chairman Cees van der Hoeven said the figures "proved the company's capability to continue its good performance in somewhat weakened economic conditions".

Economic slowdown, which accelerated after the 11 September terrorist attacks, had only a limited effect, Ahold said.

The company, which has operations in the Americas, Asia and its home of Europe, is in the top five retailers by sales worldwide.

Net profit for the third quarter after exceptional items and charges was 304.2m euros ($268m; �190m).

Over the three months, retail sales in the US increased 6.6%, with organic food sales growing 7% and overall operating profits up 27.2%.

Total sales for the group were up 12.6% to 15.5bn euros.

Acquisitions

Much of the sales boost came from acquisitions, including PYA/Monarch, Mutual and Parkway in the US and Spanish supermarket chain Supersiplo.

In Latin America, sales fell 11.5%, a drop the company blamed on the devaluation of the Brazilian currency, the real, while store closures in Malaysia and Thailand accounted for the 3.9% fall in Asia-Pacific sales.

Despite the good figures, Ahold shares fell slightly in morning trading. Dealers said the 0.36% slip was triggered by a $220m charge for restructuring its US businesses after acquisitions.

"The third-quarter figures were in line with expectations but the restructuring charge spoiled the party," said ING Barings' Fernand de Boer.