Jumbo first-half profit rises 2.92% as retailer plans new Cyprus store

Athens, Greece. Greek retail group Jumbo reported a net profit of €120.6 million in the first half of 2026, up 2.92% year-on-year, as sales rose 4.42% to €519.26 million. The company kept its full-year outlook unchanged and announced an extraordinary €1-per-share cash distribution.

Cyprus operations and expansion

Jumbo said disruption in Cyprus initially caused by the island’s proximity to conflicts in the Middle East had gradually eased, with market conditions normalising over the summer months.

Cyprus is one of the group’s four directly operated markets. Jumbo has six stores on the island, alongside 53 in Greece, 10 in Bulgaria and 20 in Romania, bringing its directly operated network to 89 stores. It plans to open another store in Cyprus in 2027 as part of a targeted expansion programme across its core markets.

First-half results and outlook

For the six months to June, sales increased from €497.28 million a year earlier to €519.26 million, while gross profit rose 3.77% to €277.94 million. EBITDA increased 2.81% to €170 million from €165.36 million, and net profit rose from €117.18 million to €120.6 million.

The results came amid heightened geopolitical uncertainty, with ongoing conflicts putting pressure on energy prices, international freight and supply chains and weighing on consumer sentiment.

Management maintained its forecast for sales growth of around 5% in 2026 and net profit of between €310 million and €320 million. The retailer said the second half traditionally accounts for a greater share of annual sales and profit.

Greece, which represents approximately 60% of Jumbo’s business, continued to record healthy growth in the first half.