Thursday October 23, 2014 Search
Weather | Athens
24o C
14o 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 weighs its LNG and CNG options
Greece ranks among global leaders in tourism growth
Global oil price drop sends local fuel prices back to 2010 levels
Buy big house, become a citizen
Cyprus seeks EU response over Turkey´s EEZ violation
Cyprus is to raise the issue of Turkey’s violation of its exclusive economic zone (EEZ) at Thursday’s European Council meeting after Turkish Prime Minister Ahmet Davutoglu raised the specter...
Thirteen indicted for inmate torture
Thirteen correctional officers and their former warden will stand trial in Serres, northern Greece, over the death of Albanian inmate Ilie Kareli on March 27 at Nigrita Prison. Kareli was tr...
Inside News
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Careful what you wish for
Everyone is in a rush to become prime minister in this country, as if they have not learned a single thing from its political history. While still in opposition, PASOK’s George Papandreou ma...
EDITORIAL
Taking care of our key industry
It’s time to face facts: Tourism is the country’s heavy industry. The sector’s considerable contribution has served as a stabilizing factor for the local economy, essentially placing the cou...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Roberto´s heroics make Kasami´s goal count
2. Athens weighs its LNG and CNG options
3. Greece ranks among global leaders in tourism growth
4. Global oil price drop sends local fuel prices back to 2010 levels
5. Buy big house, become a citizen
6. Cyprus seeks EU response over Turkey´s EEZ violation
more news
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Cyprus to block Turkey's EU talks after EEZ violation
3. EU’s Juncker wins Commission-team approval with investment vow
4. Juncker’s EU commission team set for parliamentary green light
5. Taprantzis resigns from privatization agency TAIPED
6. Fallen tree, smashup cause traffic jams in Athens
Today
This Week
1. Istanbul skyscraper casts shadow over Greece's banking ambitions
2. Coalition shooting itself in the foot
3. Greece’s closed society is central to its current malaise
4. Greece must stick to reforms, says Schaeuble
5. The past, present and future of the Greek debt crisis
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.