ECONOMY

Six-month profits up 15 pct for Jumbo

As Greece gets ready for the Carnival season, one of the country’s largest retailers of costumes and toys, Jumbo, said yesterday net profits and sales for the six months to end-December rose about 15 percent year-on-year. The retailer said net profit for the six-month period rose by more than its initial target of 12 percent. Jumbo’s fiscal year ends in June. The group has targeted annual growth of 15 percent in net earnings and sales in the 2007-2010 period. The company will announce six-month results on February 26. In the first six months of its previous fiscal year, net profits were 48.2 million euros, while sales came to 238.5 million. Jumbo operates 44 shops in Greece, Cyprus and Bulgaria. It launched its first store in Sofia in 2007.