Blockchain technology to be applied as a first in Romanian food sector

The blockchain technology, known until now in the financial industry, will be applied, for the first time, in the Romanian food sector, offering consumers the possibility of discovering information, straight from the farm, regarding the origin and quality of the produce they consume.

Jumbo reports 8 percent annual rise in profits

Jumbo, Greece's biggest listed retailer, on Monday posted an 8 percent rise in net profit for the fiscal year to end-June, mainly due to robust growth in Bulgaria and Romania.

Net profit for the 12 months came in at 131 million euros, up from 121 million euros in the year-ago period. It will pay a total dividend of 0.36 euros a share.

Jumbo annual sales increase 6.8 percent

Greek retailer Jumbo posted on Tuesday a 6.8 percent rise in sales for its fiscal year to the end of June, thanks to strong growth in Romania and Bulgaria. It said it expected sales to rise by 6 to 9 percent in the next 12 months.

Jumbo has fared well because of its low-cost products and foreign operations despite seven years of austerity in Greece.