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Jumbo: Sales increased by 12.8% during the first half

Sales for the JUMBO Group increased by approximately +12.8% during the first half of the year (January-June 2022) compared to the corresponding period last year, despite the income disruption caused by the inflationary explosion and geopolitical conditions, the energy insecurity and the absurdly expensive transport costs, as the listed company states in a relevant update on its sales performance in the first half of the year.

However, none of the parameters show improvement, but on the contrary they tend to further arrhythmia, driving the system to its absolute limits, he adds.

As the listed company notes, the strategic choice of the JUMBO Group to exclude from its product range, any product that, due to the new cost data, the relationship between price and quality, is judged not to lean in favor of the consumer, already yields specific positive results and maintains intact the optimism for the next day when the crisis is gradually reduced.

The sales for the month of June 2022 remained stable despite being compared to a period of consumer euphoria, following successive lock downs and severe restrictions caused by the pandemic.

The sales process in detail:

Hellas: For June 2022, the parent company’s net sales (excluding intra-company transactions) showed a decrease of approximately -1.4% compared to June 2021.

Overall for the half of 2022, the net sales of the parent company – excluding intercompany transactions – showed an increase of approximately +21% compared to the corresponding half of last year.

Cyprus: Sales in June 2022 increased by approximately +14%, compared to the corresponding month last year.

In total, sales in Cyprus for the half of 2022 have increased by approximately +25%, compared to the corresponding half of last year.

Bulgaria: Network sales recorded an increase of approximately +1.5% in June 2022, compared to the corresponding month last year.

In total, the sales of the stores, in Bulgaria, for the semester of 2022 are reduced by approximately -0.3%, compared to the corresponding semester last year.

Romania: Network sales were down about -4% in June 2022, compared to the same month last year.

Overall, sales in Romania for the half of 2022 are down by approximately -7%, compared to the corresponding half of last year.

The Jumbo Group takes advantage of its strong financial position and continues its investment program for 2022-2023.

Aiming to strengthen the Romanian market, JUMBO will proceed with the opening of another privately owned superstore in Sibiu, before Christmas 2022.

For 2023, two more superstores are expected to operate in Romania and one superstore in Cyprus. The operation of the online store in Romania is also expected to begin.

As far as 2024 is concerned, the uncertainty is such that moves which under normal circumstances would have taken place today have for the time being been postponed due to the uncontrolled increase in costs and the likely side effects this may have on the competitiveness of any of our future investment options.

Source: Capital

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