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Jerónimo Martins Posts 12% Profit Increase In First Nine Months Of Year

Published on Oct 24 2016 7:26 AM in Retail tagged: Featured Post / Poland / Portugal / Jerónimo Martins / Recheio / Biedronka / Colombia / Ara

Jerónimo Martins Posts 12% Profit Increase In First Nine Months Of Year

Portuguese retail group Jerónimo Martins has posted a 12% growth in net profit (on a comparable basis) for the first nine months of the year, of €266.5 million.

Consolidated sales reached €10.73 billion (+5.5%), while LFL sales increased by 6.5% (+6.9% in Q3) compared to the same period last year.

In Poland, its Biedronka operation saw sales grow 9.9% (in local currency) with LFL sales up 8.7% (+8.5% in Q3). In euros, sales reached €7.16 billion (+4.8%). Since January, Biedronka opened 50 new stores bringing the total to 2,700.

In Portugal, Pingo Doce sales grew 4.7% to reach €2.62 billion with LFL sales (excl. fuel) at 1.1% (+2.6% in Q3). Over the period, six new stores were opened.

Recheio recorded total sales of €663.1 million, an increase of 5.5% in the nine months (+7.6% in Q3). LFL sales reached +4.4% in the nine months (+5.9% in Q3), helped by the contribution from one new store.

In Colombia, Ara’s sales stood at €162.3 million in the first nine months of the year. The banner opened its first stores in the Bogota area in September, adding this third region to its expansion map. Since January, Ara has opened a total of 41 stores, taking the total to 183.

Group capex was €295.1 million in the first nine months of the year, of which around 43% was invested in Biedronka.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.

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