Toy retailer posts jumbo sales

Listed toy and homeware retailer Jumbo is planning a 7.04-million-euro share capital increase with one new share to be distributed for every 22 old ones, pending the approval of its annual general meeting on February 12.

Shareholders will also be asked to authorize the board to issue company bonds.

Its October-December results showed a higher-than-expected increase in sales, as the positive trend that started in the period from July to September continued for cumulative six-month sales of 316.74 million euros, up from 295.39 million in the same period of 2012. This means that sales volume grew by 7.23 percent, against expectations for an increase of between 4 and 6 percent.

Sales at the company’s stores in Greece remained in positive territory in the October-December period, while sales in Cyprus posted significant growth, partly thanks to the launch of a new store at Paphos.