Jumbo Group profits were increased by 40.1% in relation to the last same period, which had also shown a significant profitability increase. According to the published accounts, which refer to the fist half of the fiscal year 2004-2005, namely 1st July 2004 to 31st December 2004, the net pre-tax profits of the Group increased by 40.12% from €20.7million to €29million.
A spectacular – for the given market conditions - increase of 26.5% was also shown by the Group sales which exceeded €139.4million in comparison to €110.2million of last year. The rapid increase of profits is mainly attributed to the following factors:
- The Group kept improving gross profit margin by approximately 1% (from 46.34% to 47.03%) offering, at the same time, the lowest prices in the Greek toy, baby and stationery items market.
- The total cost of products sold amounted to €73.8million which stands for the 53% of sales and was increased only by 24.8% which is a percentage significantly lower than the volume of sales increase; taking into account inter company sales, which have been deducted in the unified results.
- Net pre-extraordinary results profits, were improved by 160 base units. (from 19.75% to 21.36%).
- Operational profit margin was improved by 37 base units (from26.26% to 26.63%)
- Minority Rights in the Group, for this fiscal year are zero (last year were €483,796), since the Group has acquired the whole bulk of shares, of the introduced to the Stock Exchange of Cyprus, daughter company and erased its titles from the Cyprus Stock Exchange.
Amortizations during the first half of the new fiscal year amounted to €4.7million in comparison to €4.6million of the previous. Pre tax and amortization profits (EBITDA) were increased by 36.81%. Interest and loan obligations remained stable, resulting in a decrease of the proportional expense from financial cost.
The above overall improvement of figures is characterized by all major foreign and domestic investment houses , as exemplary for the effectiveness of the sales and administration mechanism of the company, resulting to an intense investment interest already expressed on their behalf.