[size=75:8xcmiduw]novinite 26 February 2010

Jumbo Sees Double-Digit Growth in Bulgaria, Cyprus

umbo, the Greek chain of toy hypermarkets, has reported a 5,8% increase in sales to EUR 292,1 M mainly due to the double-digit growth of its operations in Bulgaria and Cyprus.

The company said net profit fell to EUR 49,4 M in the six months to end-December after the government imposed a EUR 10 M tax on the retailer.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 7,2 percent to EUR 84,4 M after cost cutting.

The retailer has said it is aiming for 6% net profit growth in the year to June 2010, but did not repeat that target on Thursday.

The company, which operates 45 shops in Greece, Cyprus and Bulgaria, plans to add another seven by June 2011, including two in Bulgaria.

Jumbo opened its first store in the Bulgarian capital Sofia at the end of 2007. The store has an area of 15,000 square meters and is located on Bulgaria boulevard.

I haven't come across this one before unless they trade under some other name does anyone know this company ?