Friday August 29, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek toy retailer Jumbo's profits jump

Greece’s largest toy seller, Jumbo, on Monday reported a 44 percent rise in net profit for the nine months to March, helped by the absence of a one-off impairment in Cyprus that affected the comparable figure from the year before.

Jumbo, which operates 52 stores in Greece and another 14 in Cyprus, Bulgaria and Romania, said net profit rose to 69.5 million euros in the first nine months of its fiscal year from 48.2 million in the comparable period.

Net profit was dented the previous year by a haircut on bank deposits in Cyprus as part of an international bailout of the Mediterranean country.

Excluding this one-off item, net profit rose 5.9 percent year-on-year, Jumbo said.

Retail business in Greece has been hit hard by four years of austerity that the country has imposed under its multi-billion EU/IMF bailout.

But Jumbo has fared relatively well due to strong performances in its foreign operations.

Last month, Jumbo posted a 7.6 percent rise in sales for the nine-month period to 410.9 million euros.

That was higher than the company’s forecast for an increase in sales of between 4 and 6 percent in the 12 months to June 2014.

A company official said Cyprus and Bulgaria saw a double-digit percentage sales rise.

Turnover was also boosted by the launch of the first two stores in Romania last year, Jumbo said.

The retailer stuck to its investment plans, saying it would open another 14 to 16 stores in Romania over the next five years.

In Greece, it plans to opens six to eight new stores in the next three to four years.

[Reuters]

ekathimerini.com , Monday May 26, 2014 (20:08)  
Athens water utility´s net income falls to 15.6 mln euros
Greek stocks head south for fourth month in a row
Greek bank Piraeus reports Q2 profit of 164 mln euros
Greece´s Eurobank posts 301-mln-euro loss in Q2
Kouvelis avoids ruling out his potential candidacy for Greek president
As speculation intensifies about Democratic Left (DIMAR) leader Fotis Kouvelis being the ruling coalition's favored candidate for president, with the term of incumbent Karolos Papoulis set t...
Greek PM to meet Juncker in Brussels, host Coelho, Rajoy in Athens
After a flurry of meetings and telephone calls with European officials, Prime Minister Antonis Samaras is set to meet with incoming European Commission President Jean-Claude Juncker at a Eur...
Inside News
Iliadis triples up as Aguiar stuns Tcheumeo
Greek star Ilias Iliadis claimed his third world title in the under-90kg category in Chelyabinsk on Friday as Brazilian Mayra Aguiar and Colombian Yuri Alvear won gold in the women’s under-7...
SOCCER
New Greece coach Ranieri promises to give youth a chance
Claudio Ranieri has promised to give young players a chance after being officially presented as the new coach of Greece. The much-travelled Italian signed a two-year deal in July to have his...
Inside Sports
ANALYSIS
Greek quest for debt relief faces hurdles in Paris
As Greek Prime Minister Antonis Samaras tries to follow Ireland and Portugal out the bailout exit door, he faces a month of bargaining. For a nation that’s already gone through the biggest d...
COMMENTARY
Stifled dreams
At more or less the same time every year, we see the same images of high school graduates looking through the Education Ministry’s lists of those who passed and those who failed the national...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens water utility´s net income falls to 15.6 mln euros
2. Greek stocks head south for fourth month in a row
3. Greek bank Piraeus reports Q2 profit of 164 mln euros
4. Greece´s Eurobank posts 301-mln-euro loss in Q2
5. Iliadis triples up as Aguiar stuns Tcheumeo
6. New Greece coach Ranieri promises to give youth a chance
more news
Today
This Week
1. Greek quest for debt relief faces hurdles in Paris
2. Strong undersea quake occurs off island of Milos, felt in Athens
3. Dozens of migrants intercepted in the Aegean
4. Rendi shootout leaves would-be hypermarket robber dead
5. Gov't jet carrying Venizelos back from Turkey conducts emergency landing
6. Finance Minister holds final preparatory talks before Paris meet with troika
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Attack on gay couple in Athens leaves one man needing surgery
3. Merkel cites euro’s ‘construction flaws’ as economy sputters
4. Purification rituals
5. Second man held over double murder in Mani
6. The battle against progress
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.