Jerónimo Martins Sees Growth in Portugal and Poland
Portuguese retail group Jerónimo Martins saw first half 2015 profit up 3.2 per cent (year-on-year) to €150 million, with positive results in both Portugal and Poland.
During this period, group sales increased by 9.8 per cent to €6.6 billion, with EBITDA up 6.3 per cent to €363 million.
In Portugal, supermarket chain Pingo Doce and Cash & Carry unit Recheio registered a particularly good first half of the year with like-for-like sales (LFL) growth of 4.3 per cent and 5.0 per cent, respectively. Both outperformed the market.
In addition, Pingo Doce’s refurbishment programme continued, with 15 stores remodelled in H1 2015.
In Poland, Biedronka sales increased 10.6 per cent (local currency), with LFL growth at 2.6 per cent, despite strong basket deflation in the period (-3.3 per cent). In the first six months of the year, the company opened 83 stores.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.