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THE Jerónimo Martins’ profit fell 17.8% in the first nine months of the year, compared to the same period in 2019, to 219 million euros, the owner of the supermarket chain Pingo Doce announced today.
“I am aware that the uncertainty remains very high and that Christmas, time traditionally stronger for the food sector, this year could be conditioned by mobility limitations and the lack of confidence and purchasing capacity on the part of an increasingly price-sensitive consumer, deriving from the unique moment that we live in worldwide “, states Pedro Soares dos Santos, in the report of the results for the first nine months of the year.
“These nine months of 2020 are marked by more than six months under the effects of pandemic of covid-19 “and, in this period,” the determined work of our teams and the flexibility of our operations have allowed us to be agile and creative in the necessary adaptation of the value propositions of our brands in particularly complex market conditions “, continues the manager, in the press release.
“In recent months, the solidity of our balance sheet has allowed us not to lose, in the short term urgency perspective in the long term and stick to defined strategic priorities. Despite the difficult times we live in, I believe that today we are better prepared than six months ago to face the needs of the reality of each market and to continue to grow in a sustainable way “, underlined Pedro Soares dos Santos.
Jerónimo Martins operates in Portugal, Poland and Colombia.
Consolidated sales increased by 3.9% in the period under review, compared to the first nine months of 2019, to 14.2 billion euros.
Profit before taxes, interest, write-downs and depreciation (EBITDA) decreased by 1.9% to 1,029 million euros.
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