Jeronimo Martins' quarterly profit jumps 15% on higher sales

LISBON (Reuters) -Portuguese retailer Jeronimo Martins posted a near 15% rise in its third-quarter net profit on Wednesday, as sales and core earnings increased despite fierce competition and a complex market environment.

The company, whose main market is Poland, where it operates the country's largest food retailer Biedronka, booked a net profit of 214 million euros ($250 million) in the quarter.

Net sales rose nearly 8% to 9.14 billion euros and earnings before interest, taxes, depreciation and amortisation (EBITDA) increased about 12% to 664 million euros.

"We confirm the outlook disclosed on 1 August 2025. In an uncertain environment, our banners remain committed to ensuring price competitiveness, sustaining consumer preference, and reinforcing our market positions," the company said in a statement.

It said the 9.2% minimum wage increase in Poland boosted household disposable income, but "competitive intensity shows no signs of easing in a food retail market that offers muted growth".

($1 = 0.8575 euros)

(Reporting by Andrei Khalip, editing by Sergio Goncalves)