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Profits up for Jerónimo

Agnieszka Zielińska 14 March 2019
POLAND/PORTUGAL/COLUMBIA Jerónimo Martins is planning to open around 60 new Biedronka stores this year.

Over 2018, the company invested EUR 658 mln, of which EUR 372 mln was spent on the Biedronka chain, which grew by 77 stores to number 2,900 by the end of the year. The group also modernised 230 Biedronka stores over the period. Biedronka’s sales increased to EUR 11.69 mln, up by 5.6 pct y-o-y. The chain’s EBITDA came to EUR 850 mln while the sales of the entire Jerónimo Martins group (which also has operations in Portugal and Columbia) increased by 6.5 pct in 2018, to EUR 17.3 bln. The group is planning to invest EUR 700-750 mln in 2019 in the expansion of its brands including its Hebe, Pingo Doce and Ara chains.

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