During the most difficult period of the Greek economy, in a time of great frustration and uncertainty, consumers vote massively with their money the stability and the best possible offer between cost and benefit. The JUMBO Group, the largest retail company of toys, baby, stationary and other relevant products in Greece, announces that during the nine months of the current financial year (July 2011-June 2012) sales of the Group reached EUR 380,31 m from EUR 372,71 m at the respective period last year, increased by +2,04% y-o-y. The net profits of Group amounted to EUR 67,91m from EUR 64,29 m, at the respective period last year, increased by +5,62% y-o-y.
It should be noted that during the first quarter of 2012, that corresponds to the third quarter of the financial year for the Jumbo Group, the Greek economy shrank by 6,2% y-o-y the Jumbo stores presented increased sales by + 5.72% y-o-y. The Group's strategic decision to accelerate the implementation of its investment program contributed in dealing with the extreme conditions that prevail the market.
It is also noted that the sales of Easter period for the current financial year have been split between the 3rd and the 4th quarter since this year Easter celebrated one week earlier while last year's sales of Easter period had effected positively only the 4th quarter. Nevertheless, the 10 month sales which include also the sales of the Easter remained within the annual target (0% -1%). It is encouraging that despite the uncertainty that followed the election results inGreece, the first indications from the sales in May remain strongly positive.
For the 9months, the gross margin for the Group was 52,23% from 51,67% at the respective period last year while EBITDA increased by +2,52% y-o-y to €95,53 m from €93,18m at the respective period last year. EBITDA improved despite the increase of the expenses due to the continuous expansion of the Group with the opening of new hyperstores.
As a result of the above, the Group's profit before taxes reached € 83,24 m, increase of +1,48% y-o-y while the Group's profits after taxes amounted to € 67,91 m increased by +5,62% y-o-y.
During the nine months of the current financial year the Group operated 4 new hyperstores.
In July 2011 the Group opened the new owned store inBurgas,Bulgariaof total surface 18ths sqm,In September 2011 opened a new rented store in ElefsinaIn October 2011 opened a new rented store in Gialou (Spata) of total surface 9ths sqm andIn November 2011 opened a new owned store inGiannitsa,Greeceof total surface 9ths sqm.
Moreover, in May 2012 the Group opened the new rented store in Lavrio,Atticaof total surface 9ths sqm.
Today, the Group operates a network of 57 stores of which 48 are inGreece,3 inCyprusand6 inBulgariaand proceeds to the completion and the operation of one store inRussell,Bulgaria, until the end of May 2012.