Electronics retailer Altex, which saw a 20% decline in turnover last year, estimates it will close the 2006 financial year with a 0 to 1% profit margin. "We hope to achieve a profit margin of around 0%. I don't know if it will be below or above zero, but this will become apparent towards the end of the month. I think the result will be positive, and will stand at around 1%," stated Dan Ostahie, chairman and CEO of Altex. The reasons given for the results, down from a 2.33% profit margin in 2005, were the decline of the overall market, as well as investments in developing the Altex and Media Galaxy networks in the country. Altex has recently completed a 500,000-euro investment in building a Media Galaxy electronics centre with a 3,000 square-metre area in Satu-Mare, the 15th largest in the network. "There is a trend on the market that we have not as yet taken into account, educated customers who do their shopping in Hungary. We want to bring these customers back," stated Ostahie.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
