Amsterdam - Dutch supermarket giant Ahold was holding up against the financial crisis, the company said upon releasing positive fourth quarter results for 2008 on Monday.

The company said net income in the last three months of 2008 was 285 million euros (360.53 million dollars), up from 262 million euros in the same period in 2007.

Ahold runs the biggest Dutch supermarket chain, Albert Heijn, as well as US stores Stop&Shop and Giant-Carlisle.

Responding to the company results Chief Executive Officer John Rishton said Ahold was "well prepared to respond to the effects of recession."

"We have a strong balance sheet and we have repositioned our businesses over recent years to give better value to our customers. We continue to improve our offer and reduce costs."

Rishton said the company was profiting form the fact that many consumers tend to eat out less and rather spend their money in the supermarket.

"Despite the continued deterioration of the economic environment, in the first weeks of 2009 we have seen no significant changes in consumer behaviour," Rishton said

Ahold's operating income in the fourth quarter of 2008 was 365 million euros, up from 253 million euros in 2007.

However, Ahold's net income for all of 2008 was 1.1 billion euros. This was 63 per cent lower than in 2007, when its net income was boosted to 2 billion euros by substantial divestments.

Operating income was 1.2 billion euros, 130 million or 12.2 per cent higher than 2007. Net sales were 25.7 billion euros, up 3.3 per cent compared to 2007.

Ahold said it would pay its shareholders 18 euro cents per share in dividends, 12 per cent more than in 2007. dpa rl mt jbl