Jumbo group, the largest retail company of toys, baby products, stationary products and other relevant products in Greece, announces that the Annual General Meeting of the company’s shareholders, which was held on Thursday, November 3rd, 2011 at 16:00 at the company’s headquarters, attended 192 Shareholders, representing 83,63% of the Company’s paid-up share capital, approved a capital return of € 0.21 per share.
During the Annual General Meeting, the management informed the investors that despite the difficulties in the retail market in Greece the company continues its efforts to strengthen its market position through the execution of its investment plan and to reiterate the positive growth rate in sales. During the first quarter of the current financial year the sales of the Group were increased by 3.5% y-o-y while early indications point that at least an equal increase will apply to the earnings too, since the gross margin appears improved by 1%.
This positive development led the Company’s management to propose at the General Assembly the capital return of € 0,21 per share instead of € 0,17, proposition that was finally approved.
Moreover the management informed the company’s shareholders that Group’s sales were inline with the annual target (0%-2%). During the first four months of the current financial year the Group launched three new stores. Specifically one in Burgas, Bulgaria, one in Elesfina, Greece and one in Spata, Greece while until the end of the calendar year it will launch one more store in Giannitsa, Greece. Two more stores will open in Bulgaria on the first half of 2012.
Today, the Group operates a network of 55 stores of which 46 are in Greece, 3 in Cyprus and 6 in Bulgaria.