The new store on the island is not expected to open this year, as the last required permit has now been issued
In Cyprus, Jumbo's sales increased by 18% in the seven months of 2023 and by 16% in July of this year. At the same time, the new store in Cyprus is not expected to operate this year, as the last required license has now been issued.
According to the company's financial results, the seven-month period January – July closed with a 20% increase in sales. 2023 for Jumbo, a growth rate – which as it states – exceeds the company's management's forecast for the overall growth rate of 2023, i.e. 15%.
The listed company, however, announced yesterday that it will also wait for the results of September, when sales of school supplies are made, in order to re-evaluate its estimates for turnover and profits in 2023. The company, however, states that it continues to reduce prices on a daily basis, something that the head of Jumbo Apostolos Vakakis had announced during the last annual general meeting of shareholders.
In particular, sales in Greece recorded a 22% increase in the seven-month period January – July 2023 compared to the corresponding period of 2022, while sales recorded a corresponding increase in July 2023 compared to July 2022.
Bulgaria and Romania
In Bulgaria, sales recorded an increase of approximately 12% in July 2023, compared to the corresponding month last year. In total, sales in Bulgaria for the first seven months of 2023 have increased by approximately 16%, compared to the corresponding period last year.
In Romania, sales during the first seven months increased by 17% compared to the corresponding period last year, while in July 2023 sales increased by 15% compared to July 2022. It is worth noting that in July it started its operation and the Jumbo online store in Romania.
As has been announced, the annual general meeting of shareholders of the Jumbo group approved the management's proposal to distribute a dividend from the profits of 2022, a gross amount of 0.3220 euros per share. Wednesday, August 23, 2023 is set as the cut-off date for the dividend. The beneficiaries of the dividend are the company's shareholders who are registered in the records of the Intangible Securities System (SAT) on Thursday, August 24, 2023 (record date). Tuesday, August 29, 2023 has been set as the starting date for the payment of the dividend to its beneficiaries.
New stores outside Cyprus
Regarding the new stores that Jumbo is preparing this year, by the end of 2023 a leased superstore in the center of Plovdiv in Bulgaria and a privately owned superstore in Iași, Romania are expected to operate.
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