February 28, 2018 / 5:52 PM / 3 months ago

J.Martins fourth-quarter profit rises 9 pct, less than expected

LISBON, Feb 28 (Reuters) - Portuguese retailer Jeronimo Martins reported on Wednesday a lower-than-expected fourth-quarter net profit of 100 million euros ($122 million), up 9 percent from a year earlier, while sales grew 12 percent.

The company, which is the largest food retailer in Poland and the second-largest domestically, said sales rose to 4.35 billion euros.

Overall earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.6 percent to 253 million euros, also coming in below the market consensus. Analysts in a Reuters survey had forecast, on average, a net profit of 125 million euros and EBITDA of 266 million. ($1 = 0.8193 euros) (Reporting By Andrei Khalip)

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