Strong sales growth in Portugal and Poland has boosted annual sales at retailer Jerónimo Martins.
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The company posted a 21.3% jump in turnover to EUR5.3bn (US$7.8bn) for 2007, buoyed by robust like-for-like sales from its Portuguese Pingo Doce and Polish Biedronka stores.
New store openings also helped the result, with Jerónimo Martins opening 169 stores last year. The company, which now runs 1,349 outlets, declined to give like-for-like sales figures on a group basis.
In Portugal, like-for-like sales at Pingo Doce rose 8.7%. Sales from the company’s Feira Nova stores inched up 0.7%.
In Poland, same-store sales from Jerónimo Martins’ Biedronka stores jumped 21.1%. The company’s Polish business accounts for 45% of its turnover.
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By GlobalDataCEO Luís Palha da Silva called the results “very positive” and said the company would look to open 285 stores across Portugal and Poland in 2008.
The company will issue profit numbers for 2007 at the end of next month.
