Jerónimo Martins sees solid Q1 success across main banners

Jerónimo Martins Q1 sales rose 6.3% to EUR8.9 billion, or 6.7% at constant currency, supported by price competitiveness, promotions and an early Easter boost. EBITDA increased 8.4% to EUR572 million, with margin up to 6.4%, while net earnings fell 6.8% to EUR119 million driven by interest and exchange rate impact from the capitalisation of leases. Pingo Doce sales rose 7.5% to EUR1.29 billion and Ara sales increased 23.6% to EUR959 million. (Jerónimo Martins)