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Montero boasts 45m euros in H1 turnover

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03.10.2006, 19:01 9

Montero, a company operating in the distribution and retail of pharmaceuticals, posted H1 turnover worth 45 million euros, in line with the budgeted value.
This year, Montero projects business of 100 million euros. "Turnover went up 20% from the corresponding period of last year," said Radu Tudorache, chief executive of Montero.
According to Tudorache, the growth was triggered by the 15% surge posted by the pharmaceuticals market, and by the merger of the ten Montero companies, earlier this year.
On the retail segment, the company operates the Omnia and Remedio pharmacy networks, some of the largest local chains on the market.
"The two chains jointly include 75 pharmacies; the rebranding process with one of the two brands has not been completed for all the drugstores yet. The rebranding process was delayed while waiting for the pharmacy law, whose draft stipulates certain issues related to the exterior appearance of pharmacies.
Unfortunately, the pharmacy law has not been passed so far, and more than a year has elapsed since it was last debated," Tudorache added.
By the end of June 2006, Montero had 900 employees.
"This year, investments were oriented towards the pharmaceutical field, namely logistical services, particularly the development of a logistics centre in Chitila, a project that covers 100,000 square metres," Tudorache stated.
The work at the logistic complex will start this autumn, as the design project has been completed and the authorisation granted. "The first module will be completed next spring. Montero and another logistics company will be the first tenants and will occupy 20% of the logistic centre," explained Montero's chief executive.
Talks are currently in progress regarding the remaining space available to rent in the centre, but Montero's plans don't stop here.
"As more contracts will be concluded, the project will continue, with the total investment put at 21 million euros," Radu Tudorache stated.