Jeronimo Martins' FY Sales Reach €11.8bn

Jeronimo Martins, the owner of the biggest retail chains in Poland and Portugal, has reported a sale…

Jeronimo Martins, the owner of the biggest retail chains in Poland and Portugal, has reported a sales increase for its financial year, helped once again by the performance of the Biedronka discount chain.

The group said sales for 2013 were up 1.7% to €11.8 billion (+11.1% in currency-adjusted terms), with like-for-like sales up 3.8%.

Sales at Biedronka jumped up 14.4% to €7.7 billion, while its Pingo Doce supermarket chain in Portugal reported a modest 3.9% rise to €3.18 billion. Jeronimo Martins also noted that both of these chains have continued to gain market share in their respective countries.

Amongst other banners, Recheio reported a slight 1.7% rise to €805 million, while the new Ara (Colombia) and Hebe (Poland) chains generated sales of €80 million, in line with the group’s expectations.