Press Release

Jumbo Group, the biggest retail company of toys, baby products, stationary products and other relevant products in Greece, true to its strategic choice of constant communication with its partners, informs the investment community for the sales of the first 6 months of the current financial year:

The Group achieved, at the first half of the current financial year, sales growth above its target of 15%. Jumbo Group continues to maintain its high growth rates despite the difficult macroeconomic environment and the events that took place in Greece in December. Important for that performance was the contribution of the stores in Greece which kept their dynamics.

The performance of the hyper-store in Bulgaria was exceptional while it appears that at its first year of operation managed to attract the interest of the consumers despite the fact that the company continues having no advertising campaign in Bulgaria. The performance of the first store of the Group justifies the management’s decision to accelerate the pace of investment in the country. It is reminded that the group has already five plots in Bulgaria aiming to develop new hyper-stores that will give new dynamics to the Group.

The performance of the two hyper-stores in Cyprus was satisfactory as succeeded an increase in sales for the first half of the current financial year. It is reminded that in January 2008 the company took the strategic decision not to simply “convert” the prices in Euros from Cypriot pounds but to convert the prices according to the prices in Greece. That decision practically meant price reduction by 7%.

For the Jumbo Group the performance of the first two critical economic quarters that constitutes the base for the financial year is particularly important and indicative. For this reason the management express its optimism that the sales growth rate will maintain for the current financial year.

Today, the Group operates 44 stores of which 41 are located in Greece, 2 in Cyprus and 1 in Bulgaria. At the second half of the current financial use is expected to open one more Jumbo hyper-store in Greece while according to the restructuring plan of the Group’s network in Athens it is expected to close one small store.