Growing retail sales in Portugal and Poland has boosted first-half profits at Jerónimo Martins.
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The Portugal-based food group today (26 July) posted a 9.2% rise in net profit to EUR142m (US$195m) for the first half of the year. Turnover jumped 19.3% to EUR2.4bn.
The company’s Polish chain, Biedronka, posted like-for-like sales growth of 19.2%; sales from its Pingo Doce stores in Portugal rose by 9%.
Jerónimo Martins said it plans to continue its expansion plans in the second half of 2007, opening 9 supermarkets and 3-5 hypermarkets in Portugal, as well as 63 supermarkets in Poland.
Meanwhile, the company saw sales from its manufacturing business rise by 2.6%, it said.
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By GlobalData
