Portuguese retailer Jeronimo Martins has this week reported that net profit jumped 40 per cent year-on-year during the third quarter of 2010, driven by a strong sales performance.

Net profit stood at €92m for the three-month period, while earnings before interest, taxation, depreciation and amortisation (EBITDA) grew 29 per cent to €198m.

Total sales across the group's operations came to €2.29bn, an increase of 18.2 per cent on the year-earlier period, Reuters reported.