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Jumbo, the toy and retail giant that has enjoyed steady growth at home and abroad, reported a 11% rise in sales in its first quarter ending on September 30.
The company operates 53 stores in Greece and 14 in Cyprus, Bulgaria and Romania, with a three more expected in Greece, Cyprus and Romania by the middle of next year. It said turnover for the first quarter of its financial year was 145.5 mln euros, up from 131.2 mln euros in the same period last year.
The retailer’s trading update on the Athens Stock Exchange said that turnover in Cyprus and Bulgaria grew by double-digit percentages, with a strong tourist season in Greece also boosting sales.
The company stuck to its guidance for net profit of 90-95 mln euros and a 4-6% rise in sales for the full year to next July, agencies reported.
Jumbo will have a more accurate picture of full-year expectations after its second quarter, which includes the all-important Christmas season, a spokeswoman for the company said.