Portuguese retailer Jeronimo Martins today (16 January) posted consolidated sales of EUR4.409bn (US$5.71bn) for fiscal 2006, an increase of 15.2% on the previous year’s figures.
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Net consolidated sales in the fourth quarter were up by 17.1%, the company reported, rising to EUR1.232bn.
The company said that the increase met management’s expectations and was driven by a particularly strong performance at its Pingo Doce unit, where sales rose 13.4% and 16.6% for the full year and fourth quarter respectively.
Looking to 2007, the company said that it would remain focused on continuous price competitiveness and efficiency improvements to drive margin gains.
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