Greek toy retailer makes EUR 5.5 mln net profit in Romania

Greek toy retailer Jumbo made a net profit of EUR 5.5 million in Romania, in the fiscal year which ended in June. It posted sales of EUR 24.8 million for the same period, after opening four new stores in Bucharest, Oradea, Arad and Ploiesti, and reaching six units at mid-year. In the previous fiscal year, when the company operated only with two local stores, its net profit amounted to EUR 2.1 million and the sales reached EUR 9.4 million. The retailer opened its first store in Romania in Timisoara in October 2013. Each of the four new stores Jumbo opened in the 2014-2015 fiscal year has some 12,000 sqm of retail space. The company plans to open a new unit in Pitesti by the end of the year. This will also cover some 12,000 sqm. editor@romania-insider.com