Biedronka To Continue Driving Jerónino-Martins Growth

Portuguese mass grocery retailer (MGR) Jerónino-Martins is expected to report a 36% year-on-year increase in first quarter (three months to March 31 2010) net income to EUR44.3mn, according to analysts polled by Reuters. Continuing to perform strongly largely thanks to the outperformance of its key Polish discount unit Biedronka, Jerónino's strong exposure to Poland stands it in good stead in BMI's view. We see the discount segment playing an increasingly pivotal role in the ongoing formalisation of Poland's MGR industry.

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