Jumbo sees Q1 sales up about 20 pct

Greece's largest toy retailer, Jumbo said sales for the fiscal first quarter to end-September were seen rising by about 20 percent, despite current market turmoil.
Last month, Jumbo reported a 21.5 percent rise in net profit for its fiscal year to end-June to 82.5 million euros. Sales in the same period rose 17.9 percent to 404 million euros.
The firm aims for 15 percent profit and sales growth for the period 2007-2010.
In a presentation on its website, Jumbo also said it was targeting a network of 50-52 stores in Greece and Cyprus and 8-12 in Bulgaria. It did not give a timeframe for the targets.
Jumbo currently operates 44 stores in Greece, Cyprus and Bulgaria, where it arrived last year and where performance has exceeded expectations.
The stock trades at seven times its estimated 2008-2009 earnings compared to a multiple of 15 for the European leisure products sector, according to Reuters Estimates.