July 7, 2008 / 8:11 AM / 11 years ago

Greek retailer Jumbo to meet '08 profit target- CEO

ATHENS, July 7 (Reuters) - Greece’s largest toy retailer Jumbo (BABr.AT) is confident it will meet its fiscal 2008 profit target despite high costs from soaring oil prices and ongoing strikes at the country’s ports, its CEO said on Monday.

“After our sales performance, we are quite confident there will be no surprises to given (earnings) guidance,” Jumbo’s Chief Executive Tolis Vakakis told Reuters in a phone interview.

“We still have to wait a few days, because we have to count in June as well.”

Vakakis said Jumbo is not planning to expand in Romania until after 2013, as the firm is focused on Bulgaria, where performance has exceeded expectations since December last year when its first store started operations.

“We do not see doing anything in Romania in the next five years,” Vakakis said. “Since performance in Bulgaria has beaten our expectations, there is no reason for us to split our efforts in two countries.” (Reporting by Angeliki Koutantou; editing by George Georgiopoulos)

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