July 25, 2019 / 4:57 PM / a month ago

Portugal J.Martins' quarterly profit jumps 14% to 109 mln euros

LISBON, July 25 (Reuters) - Portuguese retailer Jeronimo Martins reported a sharp 14% rise in second-quarter net profit on Thursday as sales rose 10% helped by the calendar effect even as it geared up for the reintroduction of the retail tax in its market Poland.

The company, which is the largest food retailer in Poland and the second-largest in Portugal, where it owns the Pingo Doce supermarket chain, also saw its earnings before interest, taxes, depreciation and amortization (EBITDA) jump over 11% to 257 million euros. (Reporting by Catarina Demony and Sergio Goncalves Editing by Andrei Khalip)

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