ECONOMY

Greek toy retailer Jumbo sees profits rise

greek-toy-retailer-jumbo-sees-profits-rise

Listed toy and homeware retailer Jumbo on Monday posted a 9 percent rise in net profit for the first quarter to end-September, as stronger sales more than offset higher taxation.

Sales kept growing in October and November after rising by 4.9 percent to 152.6 million in the three months from July to September, it said.

Jumbo, which operates 53 department stores in Greece and 20 in Cyprus, Bulgaria and Romania, said first-quarter net profit rose to 21.8 million euros from 20 million in the same period last year.

[Reuters]