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FINANCIAL NEWS
UAE’s Jumbo plans expansion
09 Mar 2014
(MENAFN) UAE-based retail electronics giant Jumbo Group announced that it plans to expand its engineering and B2B businesses as well as its retail footprint in the GCC, India and Iran, Arabian Business reported.
The group’s CEO said following an unfavorable business analysis which put plans for a food and beverage franchise venture on hold, the firm is to seek out new opportunities for its existing ten-year-old subsidiary.
“I see that – in another three years’ time – to be a significant part of our portfolio,” the CEO said. “I see that – in another three years’ time – to be a significant part of our portfolio.”
Jumbo Engineering and the B2B business comprised 15 percent of Jumbo Group turnover.
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