Jeronimo Martins shares fall on H1 weaker margins

Jeronimo Martins SGPS SA

25/07/2024 08:11

** Jeronimo Martins  JMT.LS  shares fell 11.57% after it
said on Wednesday its H1 EBITDA margin decreased to 6.4% from
6.9% a year ago, due to food price deflation and warned this
pressure may be higher in H2
    ** J.P. Morgan says the H2 outlook looks cautious and shares
might underperform as the market prices this in
    ** The Portuguese retailer also posted a 28% drop in
second-quarter net profit to 156 million euros  ($168.93
million)
    ** Shares on track for their worst day since November 2021
    ** Including today's fall, the stock has dropped by 24% YTD​

    
  


($1 = 0.9234 euros)

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))