PORTUGAL: FY profits up at retailer Jeronimo Martins

Portugal-based retailer Jeronimo Martins has booked an increase in full-year profits.

In 2012, net profit grew 6% to EUR360.4m (US$471.6m) the company reported today (28 February). EBITDA reached EUR764.6m, a rise of 6% on the prior year.

Jeronimo Martins said all its business areas reported “very positive relative performances”, despite the “demands” posed by the macroeconomic environment throughout the year.

Net sales were up 10.5% reaching EUR10.9bn. Jeronimo Martins’ Polish business accounted for almost 61.9% of the company’s turnover in 2012, up from 58.8% in 2011. Biedronka sales were up 16.3%; its like-for-like sales increased 6.4%.

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