Portugal-based retailer Jeronimo Martins has reported a “strong” first-quarter with increases in both earnings and sales.
Earnings amounted to EUR75.3m (US$97.8m), a 10.4% increase on the prior year period.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
EBITDA grew 13.6% to EUR166.8m, although EBITDA margins fell by 10 basis points to 6% due to start-up costs for its new stores in Colombia and price investment in Portugal.
Sales reached EUR2.77bn, a 15.6% improvement on last year. The group attributed the increase to LFL growth of 6.3%, the contribution from new stores and a small benefit from the appreciation of the zloty compared to the same quarter last year.
“The performance of the group’s companies in the first quarter of 2013 marked a good start to the year,” said CEO Pedro Soares. “The first quarter of the year, in line with our best expectations, provides a good basis for achieving another year of growth as we committed.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
