The Annual General Meeting of Jumbo shareholders was held on Friday, 17th October at the company’s headquarters. At the General Meeting 424shareholders were present, representing the 77,31% of the company’s share capital.
The shareholders approved the distribution of a dividend of € 0,18.
The management informed the shareholders- partners that during the first quarter of the current financial year (July, August, September 2014) sales increased by + 10,92% y-o-y at € 145,51 million from € 131,19 the respective period last financial year..
This performance is attributed to the positive growth rate of the stores in Greece thanks to the good tourist period of the country. The stores in Bulgaria and in Cyprus continue to record double digit sales growth while the two stores in Romania also contributed to the Group’s performance.
The management noted the most important quarter for the Group’s performance was the second one that also includes the Christmas sales.
According to the budget for the fiscal year 2014-2015, sales are expected to increase between 4% -6%, while net profit is estimated to stand at EUR 90 million – EUR 95 million.
Today, the Jumbo store network has 67 stores, 53 out of which are located in Greece, 4 in Cyprus, 8 in Bulgaria and 2 in Romania as well as the on line store e-Jumbo.
The company’s management has informed its investors that by December 2014 the operation of two new hyper - stores in Romania will begin. The one in Bucharest (12,000 m²) and the other in Oradea (12.000 m²) while another super-store is expected to open in Arad (12.000m²) during the second half of the current financial year.
Also, during the current financial year it is expected a new JUMBO store in Cyprus (12,000 m²) and a store in Peloponnese of Greece (9,000 m) to open.