J. Martins Q3 net profit up 16 pct, beats estimates

LISBON Oct 29 (Reuters) - Portuguese retailer Jeronimo Martins (JMT.LS) on Thursday posted a 16 percent rise in third-quarter net profit, beating expectations, and said it maintained positive outlook for the rest of the year.

Net profit rose to 65.7 million euros ($97.47 million) compared with an average forecast of 58 million euros in a Reuters poll of 10 analysts. J.Martins is the second-largest retailer in Portugal and is Poland's largest food retail firm via its Biedronka discount chain.

Revenues rose 4.5 percent to nearly 1.94 billion euros while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 16 percent to 154 million euros.

Analysts had forecast, on average, revenues of 1.935 billion euros and EBITDA of 143 million euros.

In the first nine months of the year, the company's net profit rose 14 percent to 138.7 million euros.

(Reporting by Andrei Khalip)