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Jumbo Achieves Robust Growth Amid Geopolitical Strains And Fiscal Shifts

Greek retail powerhouse Jumbo has posted impressive sales growth for the first half of 2025, demonstrating resilience amid escalating geopolitical tensions in the Middle East and anticipated tax adjustments in Romania. The strong performance of its stores in Cyprus and Greece underscores the company’s ability to navigate complex international dynamics while sustaining market expansion.

Robust Performance Driven By Core Markets

Despite a challenging global backdrop, Jumbo maintained an approximate 8% year-on-year sales increase over the period. In Greece, the parent company achieved a 7.5% rise in net sales in June (excluding intercompany transactions), contributing to an overall first-half growth of nearly 9%. Meanwhile, the Cypriot market registered a 4% increase in June, with first-half figures reaching a 7% improvement compared to 2024.

Dividend Policy Enhances Shareholder Value

At the annual general meeting on July 9, shareholders endorsed the management’s proposal for a dividend of €68 million (€0.50 per share) for fiscal year 2024. Following the cancellation of 1,694,198 treasury shares — representing 1.25% of total shares — the gross distribution per share was adjusted to €0.5063. With key dates set, the ex-dividend date was July 21, the record date July 22, and payments scheduled for July 24. This dividend payout, in conjunction with an earlier extraordinary distribution of €63.5 million on March 31, culminated in a total shareholder return of €131.5 million by the end of July, translating to an approximate dividend yield of 3%.

Diverse Regional Performance And Strategic Initiatives

While Greek and Cypriot markets drove robust growth, other regions experienced varied results. Bulgaria recorded modest advancements, with June sales rising by 1% and a two-fold year-on-year increase of around 2% following the launch of a local online store. In Romania, both physical and online operations managed a 7% growth in June, doubling back to a similar performance rate during the first half of 2025, although the management has flagged potential short-term headwinds.

Geopolitical And Fiscal Headwinds

Management highlighted that the Israel-Iran conflict notably disrupted tourist inflows from Israel to Greece and Cyprus, adversely affecting operations at franchisee outlets in Israel. Additionally, upcoming fiscal adjustments in Romania, including an anticipated rise in VAT from 19% to 21% scheduled for August 2025, are poised to impact consumer spending particularly in sectors such as catering and hospitality.

Forward Outlook

Operating across 89 stores in four countries with complementary online operations throughout Greece, Cyprus, Romania, and Bulgaria, Jumbo remains well-positioned to capitalize on its geographic diversification and established market presence. The group’s strategic focus on both physical and digital platforms, coupled with a robust dividend policy, reinforces its commitment to generating long-term shareholder value amid a dynamic global economic landscape.

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.

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