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Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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