Greek retailer Jumbo first-half profit rises (updated)

Jumbo SA

16/09/2021 15:42

(Adds goods in short supply, delays in new stores)
    ATHENS, Sept 16 (Reuters) - Greek retailer Jumbo  BABr.AT 
posted on Thursday a 34.8% rise in first half net profit, with
lower operating expenses offsetting rising input and transport
costs.
    Net profit came in at 67 million euros ($79 million) in the
first six months of the year, up from 49.8 million in the same
period a year ago.
    Robust performance in foreign markets led sales higher by an
annual 12.5% to 313.8 million euros.
    However, Jumbo, which operates 52 stores in Greece and
another 28 in Romania, Bulgaria and Cyprus, said many goods were
in short supply due to supply chain disruptions worldwide.
    This forced the retailer to postpone the operation of new
stores, new warehouses and an online shop in Romania, Jumbo
said, adding that conditions were expected to remain tough
throughout 2022.
    
    ($1 = 0.8500 euros)

 (Reporting by Angeliki Koutantou; Editing by Edmund Blair)