Skip to main content

Giant retailer Jumbo continues to invest internationally

posted onJuly 22, 2017
nocomment

The 30th of June 2017 marked the end of another positive financial year for JUMBO Group within the difficult, international and national environment. The Group administration, dedicated on its principle and commitment to inform timely and credibly all the shareholders that trust their savings on the company, announces the performance of the Group’s sales for the financial year which ended on the 30.06.2017.

The Group’s sales increased by 6,88% y-o-y at 681,43 million EUR from 637,56 million of the previous fiscal year. 

The sales in Greece including the Greek stores, the e-shop, the exports to Jumbo’s partners (FYROM, Albania, Kosovo, Serbia and Bosnia) and wholesale sales increased above 2% y-o-y.

The stores in Cyprus recorded an increase of approximately 2%.

The growth of sales in Romania and Bulgaria continued to be impressive and increased by approximately 36% y-o-y and 24% y-o-y, respectively.It should be recalled that according to the Group’s budget for the financial year July 2016 - June 2017, the management’s initial estimation for the increase of the sales was between 4% and 7%.

Regarding the announcement date of the Group’s Full Year Results, it is noted that the company will inform the investing public with an announcement at a later stage.

During the financial year July 2016 - June 2017, Jumbo Group introduced two new stores, one rented store in Stara Zagora (Bulgaria) in November 2016 (approximately 11.000 sqm,) and one privately owned store in Constanta (Romania) in June 2017 (approximately 16.000 sqm).

Jumbo Group operates today 73 stores, 51 of which are located in Greece, 5 in Cyprus, 9 in Bulgaria and 8 in Romania. The Group also operates its online store www.e-jumbo.gr. The Company has already a presence in five countries through partnerships with stores that operate under Jumbo brand name (FYROM, Albania, Kosovo, Serbia and Bosnia).

JUMBO Group despite the complex, economic conjuncture and the overall uncertainty continues to invest both abroad and in Greece. The investments in Romania continue and the stores are expected to be almost 25 in number in the next five years.
Three privately owned hyper stores are expected to open in Romania until June 2018, while a new hyper store is expected to open in Northern Greece at the same time. 

The introduction of new stores, the increase of sales by a double - digit rate of the existing network in Romania and Bulgaria, as well as the stabilization of sales in Greece and Cyprus, are expected to contribute to the increase of the Group's sales during the new financial year (July 2017-June 2018)   by a rate between 6% and 9%.

According to the budget, net earnings are expected to remain flat at Group level, as gross margin is expected to be negatively affected by the increase in transport costs observed in the last few months.