Press Release

As a result of the Jumbo’s strategic choice of constant communication with its partners, the management informs the investment community for the sales of the first 6 months of the current financial year: The second quarter of the current financial year, according to the management’s first estimates, has overcome its initial targets. The first six months of the year group sales grew by 17.5% y-o-y. The management at the resent Annual Meeting of the company’s shareholders (Wednesday 12 December) had informed its shareholders that the target for the next three financial year period is a compound annual growth rate of 15% in sales and profits. The sales increase of 17.5% y-o-y for the first half of the financial year, was achieved despite the difficulties that occurred by the non operation of commercial stores in Greece at the last Sunday of the year (in a critical period due to the high seasonality of the toy sector). For the Jumbo Group the first two economic quarters are critical and account more than 60% of the total financial year. For this reason the management expresses its optimism for the achievement of the annual target. This optimism is reinforced by the operation of the new store in Sofia of Bulgaria. Currently, the management has avoided the advertising in our neighbouring country (a strategy “under the radar”). However, the consumers of the Bulgarian capital had in December the opportunity to witness the comparative advantage of JUMBO stores which offer the best possible relation between price and quality and the daily attendance is characterized impressive. The investment program of the Group proceeds according to pre-announced plan with a target of three new Giant-Stores to be operational in the Greek territory during the next financial year.