Brazilian supermarket group CBD has booked a surge in profits, which were up by more than one-quarter in the first three months of the year.

In a filing late yesterday (7 May) CBD said net profit jumped by 25.8% to BRL167m (US$87m). EBITDA increased to BRL758m, up from BRL583m last year on improving EBITDA margins, which rose to 6.2% from 5.4%.

Sales increased by 12%, rising to BRL12.15bn. Same-store sales increased 9.6%, the company said. CBD, also known by its trading name Grupo Pao de Acucar, said gains were driven by the improving economic outlook – particularly in the Brazilian labour market – and resilience of domestic consumption.

The group recently revealed it plans to increase its investment in expansion in Brazil by 24% to BRL1.96bn this year.

Click here for the full release.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now