Jeronimo Martins reported Q2 FY17 results broadly in line with our estimates. Lfl revenue increased c.7.8% (vs Q1: +5.8%), on the back of a strong performance across all core businesses. While Biedronka in Poland clocked 9.5% lfl during the quarter (vs 8.4% in Q1; contributed c.68% of the group sales), the Pingo Doce and Recheio businesses in Portugal (contributed c.28% of the group sales) also performed satisfactorily, advancing 3.1% and 8.1%, respectively. In H1 FY17, lfl sales advanced 6.9
11 Oct 2017
Good Q2 results; competition set to intensify
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Good Q2 results; competition set to intensify
Jeronimo Martins, SGPS S.A. (JEM:FRA) | 0 0 0.5% | Mkt Cap: 11,076m
- Published:
11 Oct 2017 -
Author:
Nishant Choudhary -
Pages:
3
Jeronimo Martins reported Q2 FY17 results broadly in line with our estimates. Lfl revenue increased c.7.8% (vs Q1: +5.8%), on the back of a strong performance across all core businesses. While Biedronka in Poland clocked 9.5% lfl during the quarter (vs 8.4% in Q1; contributed c.68% of the group sales), the Pingo Doce and Recheio businesses in Portugal (contributed c.28% of the group sales) also performed satisfactorily, advancing 3.1% and 8.1%, respectively. In H1 FY17, lfl sales advanced 6.9