The leading Portuguese retailer Jeronimo Martins SGPS has reported a 9.4% rise in full-year sales for 2005 to EUR3.82bn (US$4.62bn) from EUR3.49bn in 2004.
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The full-year result was in line with analysts’ forecasts for a rise of between 9.2% and 9.7%. Sales were up by 8.7% in the fourth quarter.
A particularly strong increase was recorded from the company’s Polish operations, with sales up by some 27.3% at EUR1.35bn. Domestic turnover rose by 5.1% to EUR1.67bn.
Jeronimo Martins said it was planning to open new stores during 2006 but did not give further details.
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