Grocer Jerónimo Martins posted a €42.3m (£36.8m) net profit for its first quarter, a 30% jump on the same period in the previous year.

The retailer attributed the result to strong sales, which rose 21.8% to e1.96bn (£1.70bn), compared with the first quarter of 2009.

Sales at its Biedronka discount supermarket chain in Poland leapt 36.7% to e1.09bn (£949m), boosted by like-for-like growth, the opening of 42 new stores and an almost 13% rise in the value of the Polish zloty against the euro. Sales at its Pingo Doce supermarkets grew 9.7% on the same period last year.

Topics