Portugal-based Jeronimo Martins has anounced that net profit jumped 21 per cent through the opening quarter of 2012, driven once more by a sterling performance in Poland.
Overall net profit climbed to €68.2m, while earnings before interest, depreciation, taxarion and amortistion grew 6 per cent to €152m.
Sales came in higher, up nearly 9 per cent for the three-month period to stand at €2.4bn.
The group's Polish discount operation Biedronka, the largest food retailer in the country, helped drive this growth with strong sales of 21 per cent year-on-year, while sales at Pingo Doce in Portugarose 2.1 per cent on the opening of seven new outlets – although like-for-like sales dropped 0.8 per cent.
