The management of Jumbo Group, being consistent to its effort to inform its shareholders-partners in the recent years, announces the early positive signals arising from the evaluation of the development of the up to date Group's figures.
Few days before the high -and critical for the Groups’ financial results- Christmas Season, the up to date sales figures reveal that consumers trust JUMBO throughout the year. The positive trend continued in November resulting in the increase of the five months sales above the annual target of 4%. Recall that turnover in the first quarter, despite the difficulties of the period, increased by 5,82%.
This performance is attributed to the sales increase of the stores in Greece, Cyprus and Bulgaria while during the same period the Group started operating its first two stores in Romania.
Today the Group has a network of 66 stores 52 out of which are located in Greece, 4 in Cyprus, 8 in Bulgria, 2 in Romania while what is really impressive is the response of the consumers to the online store e-Jumbo. During the second half of the current financial year it is expected to open one more owned store in the nothern Greece (9.000sqm). Gradually, with two stores during the current financial year, will start the renovation of the old stores of the Group.
As a result of these positive signs, Jumbo’s management proceeds in an upward revision of its estimates for the Group for the current financial year (July 2013 - June 2014). It is estimated that sales growth will range between 4% and 6% from 2% to 4% that has been initially estimated. Regarding net profits it is estimated to range between EUR 80 million and EUR 85 million from EUR 75 % that has been previously estimated.