Lisbon, April 30 - Portugal's second largest retailer, Jeronimo Martins, posted a 74.5 percent rise in first quarter net profit, bolstered by strong sales at its discount stores Biedronka in Poland.
Martins' net profit was 31.9 million euros. Analysts in a Reuters survey had expected the retailer to post a net profit of 29.7 million euros.
Revenues rose 32.4 percent to 1.5 billion euros.
Shares in Martins trade at 22.95 times forecast 2008 earnings, higher than French rival Carrefour, which trades at 15.26 times.