ECONOMY

Jumbo sales increase by almost 20% in 2021

Jumbo sales increase by almost 20% in 2021

Athens-listed Jumbo Group on Tuesday said its 2021 sales rose 19.87%, totaling 832 million euros. EBITDA jumped 46% to €305 million compared with 2020, while the gross profit margin rose to 55.7% in 2021 from 51.8% the previous year. 

The group said it is carrying on with its investment program and expects to launch its new superstore in Mytilini on March 18 and another superstore in Cyprus during the year. 

It is also expected to launch new outlets in Romania this year. 

Jumbo said its February sales were up 28% and up 4.5% in the first two months of the year, after a 14% decline in January.