UPDATE 2-Delhaize raises 2009 outlook after Q3 profit rise

* Q3 operating profit 228 mln euros vs forecast 223 mln

* Says on track with cost savings

* Raises full-year operating profit guidance

* Shares up as much as 4.7 percent

(Adds detail, share price, analyst comment)

By Antonia van de Velde

BRUSSELS, Nov 5 (Reuters) - Belgian supermarket group Delhaize (DELB.BR) raised its 2009 forecast for operating profit on Thursday after third-quarter earnings rose, helped by promotions, cost control and lower transport costs.

Delhaize, which generates about 70 percent of revenue in the United States, said it expected operating profit to grow between 1 and 4 percent in 2009 at stable exchange rates. It had previously forecast growth of up to 3 percent.

Earnings before interest and tax (EBIT) in the July-September period rose 5.7 percent to 228 million euros ($336 million), against an average of 223 million in a Reuters poll.

At 0850 GMT, Delhaize shares were 4.5 percent higher at 49.15 euros, against a 0.25 fall for the DJ Stoxx European retail index .SXRP, and the strongest in the FTSEurofirst 300 .FTEU3.

"The third quarter results prove that Delhaize is able to perform well in a difficult trading environment thanks to improved price positioning, targeted promotions and cost control," KBC analyst Pascale Weber said in a note to clients, adding she would slightly raise her full-year EBIT forecast.

Food inflation turned negative in the United States in the third quarter and consumers continued to spend prudently, leading to lower comparable store sales growth there.

U.S. consumer confidence slipped in October as Americans worried about their personal finances, the latest survey showed. [ID:nLU357472]

Dutch grocer Ahold (AHLN.AS), which makes over half its revenues in the U.S., said last month sales in the third-quarter grew more slowly as food prices fell and recession-hit shoppers switched to cheaper goods, especially in the United States.

Delhaize said like-for-like store sales growth in the U.S. was down 1.3 percent in the third quarter, while analysts had been expecting a 0.9 percent contraction.

In Belgium, comparable store sales rose 4.6 percent, against an expected 1.8 percent.

Delhaize faces stiff competition from the world's largest retailer Wal-Mart (WMT.N) in the United States., which announced in October it would slash prices each week this holiday season to fight off rivals.

In Belgium, it competes with discount retailer Colruyt (COLR.BR) and France's Carrefour (CARR.PA), which plans to invest in price reductions in Belgium as well.

Delhaize said it was on track to save 100 million euros in costs this year, having saved more than 60 million euros last year.

Net debt was 2.2 billion euros at the end of September, down from 2.4 billion euros at the end of December, the group said.

The group said it hoped to reach an agreement to acquire some of bankrupt U.S. supermarket chain Bi-Lo's assets.

Delhaize offered $425 million in cash for the assets in October, saying it wanted to integrate them in its wholly-owned U.S. subsidiary Food Lion. (Editing by Will Waterman and Andrew Callus) ($1=.6782 Euro)