Panasonic Romania turnover up 5% to 23.1m euros in H1

Panasonic, the Japanese producer of electronic equipment, electrical home appliances and IT, posted 23.1m-euro turnover in the first half of the year, up 5% from a year ago, according to Mediafax. The increase was mainly due to the high TV set sales.
"I believe the increase came after the Government announced the VAT hike and consumers went shopping to avoid it. Also, I believe this summer's World Football Championship also influenced buyers," stated Ştefan Ichim, manager of Panasonic Romania.
TV sets account for 75% in the company's total sales, followed by photo and video cameras, with 10%.
In the first half of the previous fiscal year, sales accounted for 40% in the total 55m-euro figure registered for the entire year, namely 22m euros, specified Ichim.
For the entire fiscal year, set to end in March 31, 2011, the company hasn't set any financial target, yet.
The company yesterday opened a new retail store, managed by T&T Panasonic Romania, with a 70 square metre area, involving 100,000-euro investments.
"For the time being, we have two such stores in Romania, one of which located in Oradea, and the chain will include 10 locations, with the following ones to be opened in the next two years," Ichim said.