Toy retailer Jumbo sees profits go up
Jumbo SA, Greece?s biggest toy retailer, posted a 5.6 percent increase in fiscal nine-month profit as revenue was boosted by new store openings. Net income rose to 67.9 million euros from 64.3 million euros in the same period a year earlier, according to an e-mailed statement from the Athens-based company on Wednesday.
Revenue advanced 2 percent to 380.3 million euros, higher than the company?s revised target of between zero and 1 percent sales growth for the July 2011 to June 2012 fiscal year, Jumbo said. Earnings before interest, taxes, depreciation and amortization rose 2.5 percent to 95.5 million euros, according to the statement. Jumbo opened four new stores in the fiscal nine-month period through April 30, bringing its total number to 57. [Bloomberg]
