Chains selling electronics and home appliances made hefty profits last year from people standing in line to buy products at their specialised stores. Whereas the turnover of the top three players on the market increased more than 2.3 times on last year, their profits nearly tripled, according to freshly released Finance Ministry data.
Altex Impex SRL, Flanco International SRL and Interexpo Ltd, the owners of the top three electronics and home appliances retail chains (Altex, Flanco and Domo), together created more than 320 million euros in turnover last year, Finance Ministry data show, 134% higher than the previous year. Cumulated net profit for the three companies was in excess of 22 million euros, three times higher than the 7.5 million euros the year before.
Altex was top profit maker last year, with almost 8.8 million euros in net profits, while Flanco came in second with nearly 7.6 million euros. Interexpo, the owner of Domo, made profits of 5.7 million euros.
In terms of turnover, Flanco was the top home appliances retailer, with nearly 119 million euros in revenues. Close behind was Altex, with a turnover in excess of 115 million euros, followed by Interexpo, with 86 million euros.
Finance Ministry data show that Altex had 1,300 employees last year, compared with Flanco's 530 and Interexpo's 400. ionut.bonoiu@zf.ro
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