Jumbo Group on Wednesday reported a 5.15 pct decline in its net profits to 16.63 million euros in the first quarter of the fiscal years (July 2010-June 2011), from 17.53 million euros in the same period last year. The Group said sales were stable at 116.47 million euros, hit by a truck drivers’ strike during the crucial school opening season.
Consolidated EBITDA fell 9.8 pct to 24.25 million euros in the July-September period, from 26.89 million euros last year. Jumbo Group said two new super stores opened in Greece, one in Preveza and another in Larissa, with three new stores expected to open in the current quarter (Cyprus, Sofia and Ioannina). The six new stores are expected to add 2% to sales growth the current year.