A respectable half-year performance from Carrefour was overshadowed by a sterling set of figures from Ahold as the European grocery giants published their interim results on Thursday. Analysts were sceptical about Carrefour's chances of meeting its target of 15% growth in net profits for the year given it only managed 5.9% in the first half. Most had pencilled in a figure of around 8%. The company said it was confident trading would be healthy in Europe and Asia in the second half and difficult in Latin America, maintaining its full year forecasts. Net profit before exceptionals was in fact up 5.9% to 320m euros on sales up 9.1% to 33.47bn euros. Ahold put in a strong performance across all divisions, although analysts said it was facing relatively weak comparatives for the first half of 2000. First half operating profit rose 41.7% to 1.4bn euros on sales up 46.4% to 34.3bn euros. Ahold president Cees van der Hoeven said the fact the company met earnings targets despite poor economic conditions in Latin America, the cost of converting recently acquired Grand Union stores in the US and absorbing losses at online subsidiary Peapod, demonstrated its "underlying strength". A spokesman said the company had continued to buck the trend in the critical US market, achieving second quarter like-for-like sales in excess of 5%. As part of a rethink of its domestic promotional strategy, the Dutch firm is ditching its long running weekly newspaper ads for its Albert Heijn stores in the Netherlands and targeting consumers more directly with promotional leaflets distributed to six million households, supported by a TV and radio ad campaign. Online shopping is being revamped in the home market with the service restricted to Amsterdam, Utrecht, Rotter-dam and The Hague. Ahold's operating divisions in the Netherlands have also teamed up to combine their e-commerce activities enabling shoppers to purchase from a single site by the year end. {{NEWS }}