Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Portugal's Jeronimo Martins to invest 1.4 bn euros in Poland  Join our daily free Newsletter

MENAFN - AFP - 09/09/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Portuguese food distributor Jeronimo Martins will pump 1.4 billion euros over three years into its supermarket chain in Poland, its largest market, the CEO said in an interview published Monday.

The group will invest around six billion zloty (1.4 billion euros, 1.85 billion) into the Biedronka chain through 2015, CEO Pedro Soares dos Santos told the Polish economic daily Puls Biznesu.

"This year our investment outlays in Poland will reach approximately 2.1 billion zloty, and are likely to remain at the same level in the next two years," dos Santos said.

He said the investment will increase Poland's Biedronka store count to 3,000 from more than 2,200 shops today.

"Today Poland is the most important market for us -- it generates almost 70 percent of our group's revenues and therefore we channel 70 percent of our investment outlays here," he added.

Present in Poland since 1995, Jeronimo Martins has to date invested eight billion zloty into its stores in 800 cities across the EU country of 38 million.

The group employs more than 40,000 people in Poland.

Worldwide the group posted 165 million euros in profit in the first half of the year, up nine percent on an annual basis, thanks to increased sales in Poland and Portugal.

Biedronka, which means ladybug in Polish, accounted for 65.5 percent of Jeronimo Martins's sales in the first half of the year. Its Portuguese brand Pingo Doce accounted for 26.9 percent.


 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help