ECONOMY

Greek toy retailer Jumbo sees 7.9 percent rise in y-o-y sales

Greek toy and home-ware retailer Jumbo saw sales in the July 2013-June 2014 period grow by 7.9 percent from 502.2 million euros to 541.9 million euros, the company has said in a report.

Gross profits grew by 53.12 percent in July 2013-June 2014 from 52.33 percent the previous financial year.

Net earnings rose to 101.25 million euros from 73.93 million euros the previous financial year, representing an increase of 36.89 percent y-o-y.

EBITDA reached 146.52 million euros from 110.39 million euros, growing 32.73 percent y-o-y.

The group also expanded its domestic and foreign presence in the July 2013-June 2014 financial year, operating five new hyper-stores. Two of these are in Greece, one in Cyprus and two in Romania.

In end-June the Jumbo store network counted 66 stores, 52 of which are located in Greece, four in Cyprus, eight in Bulgaria and two in Romania. It also operates an on-line store.

The group’s outlets in Cyprus and in Bulgaria recorded double-digit growth on sales while there was also a small increase in sales in Greece, Jumbo said.

The performance of the first two hyper-stores in Romania were in line with initial estimates.