FAMAGUSTA GAZETTE – Greek retail giant Jumbo has expressed interest in opening two new stores in Cyprus, one in Larnaca and another in Protaras, as part of its long-term strategy.
However, the company has not set a timeline for development, Kathimerini reported.
Jumbo’s 2024 financial results showed continued growth, with net profits rising 5.64% to €320.1 million and total sales increasing 6.33% to €1.15 billion.
Operating profits (EBITDA) climbed 6.6% to €424.5 million, despite higher costs related to wage increases and store expansions.
The retailer currently operates 89 stores, including six in Cyprus, along with locations in Greece, Bulgaria, and Romania.