Portuguese retailer Jerónimo Martins said that consolidated sales for its 2006 period increased by 15.1% to reach EUR4.4bn (US$5.8bn), with the group’s retail chains in Portugal performing strongly for the year.
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The company’s total net profit rose by 5.2% to EUR116.2m, while earnings per share reached EUR0.92. The retailer highlighted the turnover and earnings growth of its Biedronka chain, which was confirmed to be “the undisputed leader in the Polish retail market”. Biedronka’s net sales grew by 27.3%, while EBITDA reached EUR90.1m.
The outstanding sales growth displayed by Pingo Doce supermarkets confirmed the success of its implementation, Jerónimo Martins said. Recheio and Feira Nova also posted solid performances.
In manufacturing, Jerónimo Martins’ sales grew 5.0% reaching EUR253m, even after the disposal of frozen food business last November, it said. The performance of olive oil category was particularly noted.
Jerónimo Martins’ board will propose the distribution of a gross dividend of EUR0.44 per share in its next AGM – 4.8% increase versus the previous year.
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By GlobalData“Results in 2006 reached management’s expectations. For 2007, the group will remain focused on continuing price competitiveness and improving efficiency. Expansion to enhance market positioning in Portugal and Poland will be among our first priorities,” the retailer added.
