Jeronimo Martins: net profit up 8% in 2019

(CercleFinance.com) - Portuguese retailer Jeronimo Martins posted a rise in net profit for 2019 in what it called a "remarkable" year, in which all its businesses delivered both sales and earnings growth.


The largest food retailer in Poland and the second-largest in Portugal said net profit rose by 8% to 433 million euros last year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by almost 9% to 1.05 billion euros.

"2019 was a year of remarkable performance at all levels, confirmed by strong growth in sales and results of all banners, which made it possible to surpass, for the first time, the 1 billion euros EBITDA mark", the group said.

As previously announced, net sales rose by 7.5% to 18.6 billion euros, with like-for-like growth of 5.3%.

Jeronimo Martins said it has "reasons to look confidently to 2020," forecasting another year of profitable and sustainable growth for its businesses.

The share was up 1.2% on Euronext Lisbon after these results.

Copyright (c) 2020 CercleFinance.com. All rights reserved.