Athens, Greece. Greek retail group Jumbo maintained its 2026 outlook, forecasting sales growth of around 5 per cent and net profit of between €310 million and €320 million after sales recovered following the temporary ceasefire in the Iran conflict.
The company reiterated its guidance at its annual general meeting on July 15, where shareholders representing approximately 73 per cent of its share capital participated.
Sales recovery and outlook
Jumbo said the temporary ceasefire reached in late June validated management’s assessment that the sales slowdown during the height of the conflict would be temporary and reversible.
Group sales rose by around 7 per cent year-on-year in June, bringing growth for the first half of 2026 to approximately 4 per cent. Sales continued to recover in the first days of July, recording double-digit growth.
Management said the earlier decline reflected consumer sentiment rather than weakening underlying performance. However, it noted that the ceasefire remains fragile and market conditions have not yet returned to normal.
Based on currently available information, Jumbo maintained its full-year guidance and said it would reassess the outlook when it publishes first-half 2026 financial results.
Dividend distribution
Shareholders approved a dividend of €0.70 per share from 2025 financial year profits, representing a total payment of approximately €94 million.
Jumbo shares will trade ex-dividend from July 22, with a record date of July 23. Dividend payments will begin on July 28.
The group had already made an extraordinary cash payment of approximately €67 million to shareholders in March. By the end of July, it expects to have returned around €161.2 million to shareholders during 2026, equivalent to a dividend yield of approximately 5 per cent.
Capital allocation
Management said its capital allocation policy remains unchanged, with organic growth continuing as its main priority.
The group plans to support growth through investments in new stores and distribution centres, while continuing to pursue acquisitions of properties it currently leases.
Jumbo also intends to maintain its policy of distributing approximately one-third of consolidated net profit to shareholders through dividends. Management said it may consider another extraordinary cash distribution before year-end if surplus capital arises beyond operational and strategic requirements.