Spanish discount retailer Dia has recorded a “solid” first quarter with earnings boosted by “strong” sales momentum in Brazil and Argentina.

In the three-month period, net profit reached EUR15.6m (US$20.4m), a 10.2% increase on the prior year period. EBIT climbed 16.3% to EUR47.5m.

Sales edged up to EUR2.35bn from EUR2.34bn last year, while like-for-like sales increased 0.4%, negatively calendar effects and bad weather in Iberia, Dia said.

The retailer said it is on-track to deliver full-year double-digit underlying EPS growth.

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