Greek Retailer Jumbo Boosts Pre-Tax Profit in Bulgaria, Plans to Open New Store

Greek Retailer Jumbo Boosts Pre-Tax Profit in Bulgaria, Plans to Open New Store

Greek retailer Jumbo said that its pre-tax profit from the Bulgarian market increased to 21 million euro ($24.2 millon) in its fiscal year 2017/2018, ended June 30, from 16.5 million euro in its previous fiscal year. Jumbo's net sales revenue in Bulgaria rose to 78.1 million euro in fiscal year 2017/2018 from 64.7 million euro in the prior 12-month period, the company said in an annual financial statement. At the end of June, Jumbo operated a total of 75 stores, nine of which in Bulgaria - four in Sofia, and one each in the cities of Plovdiv, Varna, Burgas, Ruse and Stara Zagora. The company intends to open one more store in Bulgaria within the next two years, it said in its report. Bulgarian operations contributed 10.4% of the group's turnover in fiscal year 2017/2018, compared to 9.5% in fiscal year 2016/2017.Jumbo's Bulgarian unit employed 839 people at the end of June. Jumbo entered the Bulgarian market in 2005.Outside Greece, the company has stores in Bulgaria, Romania and Cyprus.($ = 0.8667 euro)

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