Jerónimo Martins rakes in €433 million and pays out 50% in dividends

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Portuguese International supermarket giant Jerónimo Martins closed 2019 with profits of €433 million, an increase of 7.9% like-for-like on 2018.

The success of its Polish operation Biedronka was the main driver with revenues increasing by 8%.
The food retailer says it will distribute half of its profits in dividends. In a statement sent to the Portuguese stock market regulator CMVM on Thursday, Jerónimo Martins revealed that its profits for 2019 were €433 million, above the €401 million registered in 2018.
“2019 was a year of remarkable performance across all our companies seeing a growth in sales, positive cash-flow results and the roll out of various transformation projects that have opened the way to a new growth cycle,” said Pedro Soares dos Santos.
The improvement in profits was based in a 7.5% growth in retail sales representing €18.6Bn, a number that was to a large extent down to the Polish operation which enjoyed a turnover increase of almost 8% to €12.6Bn.