Leading Greek toy retailer reports profit in recession-hit market

Jumbo credits its expansion in Cyprus, Bulgaria and Romania for its successful 37 per cent profit increase.
Author:
Publish date:
Social count:
0
00jumbo.jpg

A leading Greek toy retailer, Jumbo has seen a 37 per cent increase in annual profit, benefiting from strong sales in Cyprus and Bulgaria.

With 52 stores in operation in the recession-hit Greece, Jumbo has credited its profit to its expansion outside of the home market.

The retailer currently operates 14 stores in Cyprus, Bulgaria and Romania, and says it has seen net profit rise from 74 million euros in 2013 to 101 million euros by the end of its financial year in June 2014.

The profit figure was well ahead of the target of 80 to 85 million euros the company had set itself.

The profit indicates a successful year for the Greek retailer, whose market has been hammered by a six year austerity induced recession, which has wiped out about a third of household income.

Jumbo is now expecting a net profit of 90 to 95 million euros and a four to six per cent rise in sales for the current year.

The retailer launched five new stores last year and is now planning to open another six by June 2015.

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.