Jumbo Group says sales up 1.5 pct in H1

Jumbo Group is expanding its activities abroad focusing on international partnerships in new markets in the Balkans.

The company has already established its presence in FYROM, Albania, Kosovo and Serbia and plans to expand its activities in Bosnia this year.

Jumbo said its Greek retail store network recorded an 1.5 pct increase in turnover in the first half of the 2016/2017 year, despite a declining trend prevailing after September. Sales in Cyprus grew around 3.0 pct while sales in Bulgaria and Romania grew at the double digit rate.

In Group level, sales grew 8.11 pct in the first half (July 2016 – December 2016) to 401.90 million euros, from 371.75 million in the same period in 2015. Sales are expected to grow by 4-7 pct in the current year. Jumbo operated a new superstore in Bulgaria (around 11,000 sq.m.) and plans to open two superstores in Romania by Christmas 2017 and a new superstore in Northern Greece.

Jumbo Group operates a network of 72 stores, of which 51 in Greece, five in Cyprus, 9 in Bulgaria and 7 in Romania.