Jumbo group the biggest retail company of toys, baby products, stationary products and other relevant products in Greece announces the results for the fiscal year of 01/07/2007-30/06/2008:
Sales reached € 403.95m increased by 17.88% from € 342.68m in fiscal year 2006/2007. Jumbo stores in Greece and the hyper-store in Bulgaria contributed significantly in the company’s great performance as the continuing arrhythmia in the harbours complicates the achievement of great performance in Cyprus as well.
The gross margin reached 54.44% from 53.24% in fiscal year 2006/2007 while the EBITDA reached € 125.62m increased by 19.01% from € 105.55m in the previous fiscal year. The EBITDA was improved despite the increase of the expenses due to the continuous development of the company through the expansion of its network and due to the situation in the Greek ports during the financial year and the inland transportations. As a result consolidated earnings before taxes reached € 110.73m increased by 20.61% while the Group’s net earnings after taxes reached € 82.51m increased by 21.50% vs. 21.42% that was the last guidance of the company’s management. It is noted that the earnings after taxes include an extra tax of € 1.4m concerning the reserve it had formed based on the law 3220/2004 back in 2004.
The company’s management will propose at the Annual General Meeting of its shareholders which will take place on December 3, 2008 the distribution of dividend € 0.40 per share, increased by 25% from the previous year. Moreover, The Company’s Board of Directors has decided to propose to the Annual Regular General Assembly of shareholders of the company the approval for the increase of the company’s Share Capital at the amount of € 84.864.301,20 with the capitalisation of extraordinary reserves of previous financial years, amount of € 54.555.622,20 and part of the extraordinary reserve of the fiscal year 2007/2008 from retained earnings amount of € 30.308.679. The Share Capital increase will be accomplished with the issuance of 60.617.358 new bonus shares, of nominal value € 1,40 each, that will be distributed to the company’s shareholders in a proportion of one (1) new share for each (1) existing.
The two first months of the current financial year July 2008-June 2009 proceeded with the opening of the three stores that it were programmed to operate in the first half of the current financial year. In July the company launched the hyper store in Promahonas located at Serres near the Bulgarian borders of circa 8.000 sqm. In August the company launched the Group’s biggest store located in Athens at Piraeus Avenue (circa 20.000sqm) and a second store located in Athens at Marousi (circa 10.000 sqm) next to Neratziotissa station of the Athens-Piraeus Electric Railways (ISAP).
Today, the Group operates 44 stores of which 19 are located in Attica, 22 in Greek province, 2 in Cyprus and 1 in Bulgaria.