Increase in net earnings despite the uncertainty

In a time of fear and uncertainty, of simple but decent living and of the need for strengthening family bonds, the JUMBO Group, the largest retail company of toys, baby, stationary and other relevant products in Greece, responses with investments and prudent management.


In the most difficult year of the Greek retail market, employees and executives of the Group exceeded all expectations in the effort to service thousands of consumers matching the quality of the products with the best possible price.


During the first half of the current financial year (July 2011-June 2012) sales of the Group reached EUR 293,06 m from EUR 290,17 m at the respective period last year, increased by 0,99% y-o-y. The net profits of Group amounted to EUR 57,77m from EUR 53,95 m, at the respective period last year, increased by 7,08% y-o-y


The Group continues its efforts to strengthen its market position through the materialization of its investment plan and maintaining the positive growth rate in sales. The Group during the first half of the current financial year opened four new stores. More specifically in July 2011 the Group opened the new owned store in Burgas, Bulgaria of total surface 18ths sqm, in September 2011 opened a new rented store in Elefsina, in October opened a new rented store in Gialou (Spata) of total surface 9ths sqm and in November opened a new owned store in Giannitsa, Greece of total surface 9ths sqm.


The gross margin for the Group was 51,36% from 50,28% at the respective period last year while EBITDA increased by 3,63% y-o-y to €78,26m from €75,52m at the respective period last year. EBITDA was improved despite the increase of the expenses due to the continuous expansion of the Group, the increased need of advertisement and the Government levy on property that burden the first half of the current financial year up to an amount of € 900ths. As a result of the above, the Group’s profit before taxes reached € 70,81m, increase of 2,64% y-o-y while the Group’s profits after taxes amounted to € 57,77 m increased by 7,08%y-o-y.


Despite the financial difficulties and the uncertainty, the seven- months sales remained within the annual target (0% -2%). The growth of JUMBO Group's sales for the first seven months of the current financial year (July 2011 - June 2012) reached 1.40% compared to the same period last year, improved from the six months levels since January recorded a significant improvement. In addition, early indications from February sales remain positive.


Today, the Group operates a network of 56 stores of which 47 are in Greece, 3 in Cyprus and 6 in Bulgaria and proceeds to the completion and operation of two more stores. In particular, one new store in Rousse, Bulgaria, and one more in Attica, Greece.