Jerónimo Martins Q3 Net Profit Falls 28.2% to EUR 154 Million Despite 4.3% Sales Growth

Jerónimo Martins, SGPS, S.A. (JEM.F) reported Wednesday that third-quarter net profit attributable to the company fell 28.2% to EUR 154 million from EUR 214 million a year earlier, even as sales rose. Earnings per share declined to EUR 0.24 from EUR 0.34. Net sales and services increased 4.3% to EUR 9.533 billion from EUR 9.138 billion. EBITDA rose 7.6% to EUR 714 million from EUR 664 million, while EBIT grew 6.3% to EUR 401 million from EUR 378 million. For the first nine months, net profit attributable to the company dropped 14.5% to EUR 414 million from EUR 484 million, with EPS down to EUR 0.66 from EUR 0.77. Nine-month net sales and services rose 4.8% to EUR 27.815 billion from EUR 26.534 billion. JEM.F was trading at EUR 18.10, up EUR 0.25 or 1.40%, on the Frankfurt Stock Exchange.