Portugal-based retailer Jeronimo Martins this morning (28 April) reported a 30% rise in first-quarter profits after enjoying strong like-for-like sales at home and in its overseas market, Poland.
Net profit leapt 30.1% to EUR42.3m (US$55.8m) after like-for-like sales climbed 9.7%.
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Same-store sales at the retailer’s domestic Pingo Doce banner rose 9.7%, while inching up 2.2% at its Recheio cash-and-carry chain.
Same-store sales from Jeronimo Martins’ Biedronka chain in Poland jumped 13.3%.
Consolidated sales grew 21.8% to reach EUR1.96bn.
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By GlobalData
