Jumbo, a leading Greek toy retail company, operating 53 stores in Greece and 14 stores in Cyprus, Bulgaria and Romania, has announced that its turnover for the first quarter showed an 11% increase.
Jumbo stated that its strong growth in Bulgaria and Cyprus yielded an overall turnover of 145.5 million euros, a significant increase compared to the 131.2 million euros during the same period last year.
According to the company’s trading update that was released on Monday, the turnover in Cyprus and Bulgaria showed a significant growth, while the successful Greek tourist season helped the company boost its sales.
Jumbo stated that it is expecting a net profit of 90-95 million euros and a 4-6% increase in sales over the next year, while the company will have more information after the second quarter that includes the Christmas season. Furthermore, Jumbo is planning to open three more stores in Romania, one in Cyprus and one in Greece by June 2015.
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