PORTUGAL: Jeronimo Martins profits leap on value offer
By: just-food.com | 3 March 2010
 |
Jeronimo Martins' domestic focus is on the Pingo Doce and Recheio banners |
Portugal's largest retailer Jeronimo Martins said today (3 March) that its full-year profits increased by almost a quarter, after booking a 47.5% jump in fourth-quarter earnings.
In 2009, Jeronimo Martins posted a 23% increase in net profit, which rose to EUR2bn (US$2.7bn).
Jeronimo Martins said that sales rose by 6.1% in the year, or 18.4% on a constant-currency basis, as the company adjusted its value proposition and increased its focus on price to drive volumes and attract consumers during the downturn.
According to the company, the result was again boosted by a strong performance of its Biedronka chain in Poland.
Looking to the coming year, Jeronimo Martins said that it is well-placed to prosper in an environment that is expected to remain challenging.
Due to its vast experience and solid know-how of the formats and the markets in which it operates,
Jerónimo Martins believes it is prepared to face the challenges expected for 2010,” the company said.
“The group maintains intact its growth potential as well as its ability to improve the competitive positioning of the different formats.”
Sectors: Emerging markets, Retail
Companies: Jeronimo Martins
View next/previous articles
3 Mar 2010 -
Currently reading -
PORTUGAL: Jeronimo Martins profits leap on value offer
3 Mar 2010 -
Related research
The economic slowdown resulting from the global credit crisis hindered growth in retailing at the end of the review period, which was particularly evident among non-grocery retailers. A growing number of consumers suffered from decreasing purchasing ...
Related articles
POLAND: Jeronimo Martins outlines Poland expansion plans
Jeronimo Martins has confirmed that it is to expand its Biedronka chain in Poland.
There are currently no comments on this article
Be the first to comment on this article