The Greek consumers sent a message of optimism through their daily purchases, fully supporting the best balance between price and quality that the stores of the Jumbo Group, the largest retail company of toys, baby, stationary and other relevant products in Greece, offer.
The published financial statements for the financial year July 2011- June 2012 disclose that despite the financial crisis and the uncertainty, the consumers continue to choose and support the champions of the Greek retail sector. The annual sales of Jumbo Group reached € 494,29mil increased by +0,88% compared to € 489,97mil at the previous financial year.
In times of crisis and multiannual recession, the Group instead of suspending, it accelerated its investments. Jumbo supports Greek. During the financial year that ended on 30.06.2012, the Group operated 6 new hyperstores, 4 of them in Greece and 2 in Bulgaria which will contribute to the future development of the company.
The Group’s gross profit remained at 53,21% despite the increase of the transport cost during the second half of the financial year. EBITDA reached €134,42mil vs € 135,15 mil at the previous year implying a small decrease of -0.54% despite the increase of the expenses due to the continuous expansion of the Group and the increased need for advertisement. The net after tax profit for the Group reached € 97.30mil from € 94,60mil implying an increase of 2,85%.
For the current financial year July 2012-June 2013, the Group will continue its efforts to reiterate the sale’s growth rate positive and to sustain its leading position in the market. The Group in order to achieve these objectives continuously enriches the variety of products within the categories that it operates based on the developments and trends in demand, maintains product prices at competitive levels and advertises its strong brand.
In addition, the Group by using its solid financial structure and infrastructure that has created in the previous years accelerates the implementation of its investment program by adding new stores in Greece and abroad, focusing on areas that in the past had no presence or on areas where it expected the least competition between new and already established Jumbo stores.
In July and in August the first 2 stores of the new financial year opened, the one at Nea Philadelphia (Attica) of total surface of 10ths sqm and the second at Palaio Faliro (Attica) of total surface 7,5ths sqm.
It is expected that four more stores will open until the end of the current financial year, 3 in Greece and 1 in Bulgaria. Today, Jumbo Group operates a network of 60 stores of which 50 are located in Greece, 3 in Cyprus and 7 in Bulgaria.
It is reminded that according to the budget, the target for the current financial year is sales’ growth between 0%-2% while net earnings are expected to reach EUR 70mil as the deflationary pressures in Greece, the increased in transport costs and the strengthening of the dollar are expected to impact the gross margin.