Portuguese supermarket Jeronimo Martins today (Wednesday) reported a 2004 profit of €92.5m (US$123.7m), compared with €58.2m the year before, the Reuters news agency reported.

Revenue was up 3.6% at €3.5bn on a comparable basis. The report said the results were not directly comparable as Jeronimo Martins had sold its Polish cash and carry unit Eurocash in February 2003.

“The results were positive but well in line with what was expected,” Barbara Ferreira, analyst with Millenium bcp investimento said. News of the results pushed Jeronimo Martins’ share price to a four year high.