Greek toy retailer Jumbo managed to exceed the increase in sales and earnings in the first half of the financial year 2008/2009 “despite the difficult macroeconomic environment”. Jumbo is gaining popularity in Bulgaria with its Sofia-based shop. For the first half of the financial  2008/2009 year sales increased by 15.72%  on annual base. Group’s sales in the second half (January 2009- June 30 2009) rose with a better pace than the first half of 2008/2009. As a result the annual sales growth reached 15.81% . Moreover, the annual net profit for the financial year 2008/2009 is expected to be above 15.03%  which was the net profit growth of the first half of 2008/2009.

The first indications on sales level in the first two months of the current financial year July 2009-June 2010 are also positive, company said in its statement. Sales’ growth are in line with management’s target of 8% annual growth.

Jumbo operates 44 stores – 41 located in Greece, 2 in Cyprus and 1 in Bulgaria, while the retailer continues its investment program which includes opening of 2 new hyper stores in 2009/10 and 4 new hyper stores in 2010/2011.