The Extraordinary General Meeting of Jumbo Group shareholders that was held on Tuesday January 21st introduced the period of the fiscal years that will start on January 1st and will be completed on December 31st every year.
The Extraordinary General Meeting with the participation of the shareholders representing approximately 78% of the share capital approved the distribution of an 'interim dividend' for the six-month fiscal year from July 1st to December 31st 2019.
The dividend for the fiscal year that ended in December 2019 is 0,2820 EUR per share (gross amount) and corresponds to 50% of the annual dividend for the fiscal year ended on 30.6.2019, increased by 20%, exactly as the management had promised during the last General Meeting
This dividend will be distributed in two parts:
1. On 30.01.2020, 0,220 EUR per share (gross amount) will be paid from taxable extraordinary reserves by undistributed profit of the fiscal year 1.7.2014 to 30.6.2015 as approved by the Extraordinary General Meeting on 21.01.2020.
2. The remaining gross amount of 0,062 EUR per share must be approved by the Ordinary General Meeting, which will be held on the first half of 2020.
Increase of sales for the fiscal year that ended on 31.12.2019
During the Extraordinary General Meeting, the Group's management informed the shareholders of the sales after the critical -commercially- holiday season of Christmas and New Year celebration.
Group's sales reached approximately EUR 512,5 million in total for the six-month fiscal year from July 1st to December 31st, 2019 from EUR 476,8 million of the corresponding last year's period implying an increase of +7,50%.
The increase in sales was recorded despite the fact that toy sector in total did not demonstrate the same dynamic compared to the corresponding period last year for December.
This trend is a worldwide phenomenon and it is attributed to the fact that nowadays children 'migrate' earlier to suggestions like phones, music, etc. reducing the dynamic demand for expensive toys.
The Group's management has long pointed out this new trend in the toy market and as a result, there is no over-stocking problem on the beginning of the New Year.
In this context, maintaining a + 7,5% sale growth rate compared to the previous fiscal year, is a remarkable success of anticipation and management.
Undoubtedly, in addition to consumer response to JUMBO product proposals, the improvement of the economic sentiment in the Greek and Cypriot market had a decisive part on the Group's performance.
• Net sales of the parent company (excluding intragroup sales) were increased by approximately +4%, while the sales of the stores in Greece were increased by approximately +3%.
• Sales in Cyprus were increased by more than +4%
• Sales in Bulgaria increased by approximately +7%
Obviously, the contribution of Romania's dynamic market was significant as sales' growth rate exceeded + 20%.
With the opening of the owned hyper-store at Brasov, Romania (approximately 14.000sqm) in November 2019, the store network of Jumbo Group reached 80 stores.
Of which 52 are in Greece, 5 in Cyprus, 9 in Bulgaria and 14 in Romania, while the Group operates its online store www.e-jumbo.gr in Greece.
Next moves
According to management's planning by the end of December 2020, a new store will be added in Greece (approximately of 9.000 sqm). Regarding Cyprus, besides the opening of a new hyper-store in Nicosia (approximately of 11.000 sqm), Jumbo will also launch the online store.
The Group will also operate a new privately owned store in Craiova, Romania (approximately of 12.000 sqm), while warehouses and services for Romania's
e - jumbo (approximately 33.000 sqm) will be housed in the same complex.
The Group, through partnerships, has presence with 26 stores that operate under Jumbo brand in 6 countries (Albania, Kosovo, Serbia, North Macedonia, Bosnia and Montenegro).

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Jumbo SA published this content on 21 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2020 14:43:00 UTC