Jumbo Group’s annual sales grew over 10%

The stabilization of the Greek market and the double-digit growth of the JUMBO network in Romania and Bulgaria led the Group to another positive year despite the many unexpected economic events which occurred.

Group’s sales increased by 10,55% y-o-y for the financial year from July 2017 until June 2018. Sales reached 753,31 million EUR from 681,43 million EUR of the last year.

The previous financial year started positively, as Jumbo Group achieved sales growth by 10,22% y-o-y during the first half.

Despite the rainy weather that occurred in June in Greece, the second half of the FY 2017/2018 remained at a positive course and as a result the Group’s overall sales grew more than the management’s initial estimate regarding the sales’ growth between 6% and 9%.

For the financial year that ended on 30.06.2018:

  • Total net sales of the parent company (excluding intragroup sales), recorded an increase of approximately 3,9% y-o-y, with the stores’ sales in Greece to be increased by approximately 2,8% y-o-y
  • Sales of the stores in Cyprus increased by approximately 6% y-o-y
  • Sales of the stores in Bulgaria recorded an increase of approximately 20% y-o-y
  • The growth rate in Romania was above 50% y-o-y.

During the FY 2017/2018, two owned hyper stores opened in Romania. The one opened in October 2017 in the city of Suceava (approximately of 14.500 sqm) and the other in February 2018 in Bucharest (approximately of 11.800 sqm).

Jumbo operates today 75 stores, 51 of which are located in Greece, 5 in Cyprus, 9 in Bulgaria and 10 in Romania. The Group also operates its online store www.e-jumbo.gr . The Company has also a presence through partnerships in five countries with stores that operate under Jumbo brand name (FYROM, Albania, Kosovo, Serbia and Bosnia).

The investment in Romania continues and three more hyper stores are expected to open in the country until June 2019. During the same time, the opening of one more store is expected in Northern Greece.

It is noted that the company will inform the investing public about the publication date of the results for the financial year that ended on 30.06.2018 with a new announcement.