New stores helped Jumbo, Greece's biggest toy seller, offset shrinking consumption in the austerity-hurt country.
Sales in the six months to end-December 2010 dropped less than 1 percent against the same period a year ago, when turnover was 292 million euros, Jumbo said on Friday.
The retailer, which runs 50 outlets in Greece, Cyprus and Bulgaria, reiterated its outlook for full-year net profit of 60-65 million euros, a fall of 18-24 percent.
A one-off corporate tax, sales tax hikes and wage cuts imposed by Greece to obtain a 110 billion euro EU/IMF bailout in May are hurting Jumbo, which accelerated store openings.
Jumbo has said it expects revenue to increase by 0-2 percent in the year to June. It also sees VAT sales tax hikes cutting its gross profit marking by 6 percentage points to 48 percent.
source: Reuters
