Jeronimo Martins is still open to the possibility of entering a third retail market, but no formal decision has yet been made.

That is the verdict of group chairman Luis Palha, who told local media in Portugal that it has a 'strong will to enter a third market', with Jeronimo Martins also boasting its Polish Biedronka operation.

'Whether this (new market entry) will happen by the end of the year, it's too early to say,' Palha said.

Speaking about the group's current operations, Palha noted that Portugal would make up less of the business's growth in the future.

'Portugal will continue to represent less in terms of Jeronimo Martins' business in the future,' he said, adding that Poland currently represented little opportunity for acquisition.