October 25, 2017 / 4:19 PM / 7 months ago

J.Martins profit tad below forecast, sales rise over 10 pct

LISBON, Oct 25 (Reuters) - Portuguese retailer Jeronimo Martins poster a slightly lower-than-expected third-quarter net profit of 112 million euros, down from 330 million euros a year ago when it was boosted by one-offs, but with sales growing at a stronger pace.

The company, which is the largest food retailer in Poland and the second-largest domestically, said on Wednesday sales rose 10.4 percent to 4.17 billion euros, in line with expectations. Polish unit Biedronka’s same-store sales rose 9 percent, the company said.

Overall earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6 percent to 253 million euros.

Analysts in a Reuters survey had forecast, on average, a net profit of 117 million euros, EBITDA of 256 million and sales of 4.16 billion euros.

A year ago, net profit was largely boosted by a one-off gain from the sale of its unit Monterroio. (Reporting By Andrei Khalip)

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