The countdown for the Christmas season begins with optimism
The management of the Jumbo Group announces today that during the first quarter of the current financial year (July 2013-June 2014) the Group’s net profit reached EUR 18,06 million from EUR 17,15 million at the respective period of the previous financial year implying an increase of 5,35% y-o-y. As it has already been announced to the shareholders, the Group’s sales during the first quarter reached EUR 131,19 million from EUR 123,97 million at the respective period of the previous financial year. Despite the difficulties, the turnover of the first quarter was increased by 5,82% y-o-y.
This performance is attributed to the significant increase of the sales of the stores in Bulgaria and Cyprus in combination with the stabilization of the sales of the constantly growing store network in Greece.
• It is recalled that during the first quarter of the current financial year, the operation of 2 new stores started, the one in Serres (9.000 sqm) and the second at Agios Eleftherios, Athens (11.000sqm).
The gross margin profit reached 47,23% from 46,36% at the respective period of the previous financial year. This improvement is partly attributed to the straightening of the Euro as well as to the product offering, to competitive prices benefiting consumers who rewarded JUMBO choices by increasing their purchases.
EBITDA reached EUR 26,86 million from EUR 24,48 million at the respective period of the previous financial year, increased by 9,70% y-o-y. As a result, the consolidated earnings after tax reached EUR 18,06 million increased by 5,38% y-o-y mainly due to the increase of the corporate tax rate in Greece.
Despite the satisfactory results it should be noted that the most important quarter for the financial year is as always the second quarter that includes the sales of the Christmas Season.
Regarding the expansion of the Group’s network it is noted that the first store of the Group in Romania opened in October at the city of Timisoara (13.000sqm) while in November the second store of the Group in Romania and specifically in Bucharest (14.00sqm) started operating in November as well as the new leased Jumbo store in Pafos, Cyprus (10.000sqm).
Today the Group has a network of 66 stores 52 out of which are located in Greece, 4 in Cyprus, 8 in Bulgria, 2 in Romania while what is really impressive is the response of the consumers to the online store e-Jumbo. During the second half of the current financial year it is expected to open one more owned store in the nothern Greece (9.000sqm).