Jeronimo Martins has this week revealed that its net result improved by 39.4 per cent through the first half of 2010, up to €101.7m from the €73m recorded in the same period last year.

The Portuguese group said that consolidated net sales across all operations climbed 19.6 per cent at actual exchange rates to just over €4bn, compared with €3.4bn in 2009.

Net profit during the second quarter of the year jumped 47 per cent to €59.5m, boosted by strong sales growth at its Polish Biedronka operations.

'The Group's brands began 2010 well prepared and earning consumer preference,' said CEO Pedro Soares dos Santos. 'This strength was reflected in the good sales performance posted in the first six months of the year and certified the strategic focus that all our banners are placing on increasing market share.

'The positive signs received from the first half results allow us to anticipate a continued solid performance, boosted by a greater sales density for the second semester, that should enable to reach the objectives set by the Group for the full year,' he added.