Portuguese retail group Jeronimo Martins has said it expects to record double-digit growth in overall earnings and sales in 2008,

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Looking further ahead, the retailer forecast turnover to rise to EUR8bn (US$11.8bn) by 2010.
 
Jeronimo Martins said it expects its Polish subsidiary, Biedronka, to make a significant contribution to revenue growth.


It added that it believed the Biedronka chain of mini-supermarkets had great growth potential, not only in Poland but also in other eastern European countries.
 
The retailer said it was planning for capital expenditure of EUR1.3bn between 2008 and 2010, with some 60% of that earmarked for Poland. Capex in 2007 is expected to exceed EUR400m.

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