Jeronimo Martins: 2019 sales rise 7.5%, Poland shines
(CercleFinance.com) - Portuguese retailer Jeronimo Martins posted on Wednesday a 7.
5% rise in net sales last year, driven once again by its Polish unit Biedronka.
Jeronimo Martins said in a statement that preliminary sales reached 18.6 billion euros in 2019, up 8.4% at constant exchange rates.
Biedronka's sales alone rose 8.8% to 12.6 billion euros at constant exchange rates, while its like-for-like sales rose 5.8% despite fewer trading days than in 2018.
The group said that consumer demand remained particularly healthy in Poland, where GDP growth is expected to exceed 4% in 2019.
Sales at its main Pingo Doce supermarket chain in Portugal rose by 2.9% to 3.9 billion euros.
The retailer - which also operates stores in Colombia - said its local retail chain Ara grew its sales by 37.9% in local currency, with like-for-like growth of 17.6% thanks to a "revised" pricing policy.
Investors applauded the numbers, sending the shares up almost 6% in early morning trading on Euronext Lisbon on Wednesday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
5% rise in net sales last year, driven once again by its Polish unit Biedronka.
Jeronimo Martins said in a statement that preliminary sales reached 18.6 billion euros in 2019, up 8.4% at constant exchange rates.
Biedronka's sales alone rose 8.8% to 12.6 billion euros at constant exchange rates, while its like-for-like sales rose 5.8% despite fewer trading days than in 2018.
The group said that consumer demand remained particularly healthy in Poland, where GDP growth is expected to exceed 4% in 2019.
Sales at its main Pingo Doce supermarket chain in Portugal rose by 2.9% to 3.9 billion euros.
The retailer - which also operates stores in Colombia - said its local retail chain Ara grew its sales by 37.9% in local currency, with like-for-like growth of 17.6% thanks to a "revised" pricing policy.
Investors applauded the numbers, sending the shares up almost 6% in early morning trading on Euronext Lisbon on Wednesday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.