10m euros for Panasonic in H1

Panasonic Romania estimates to sell some 10 million euros’ worth in the first half of financial 2003, after having concluded Q1 with 4 million euros in turnover, Catalin Savulescu, Panasonic Romania senior manager said. “We expect the sales volume to surge in the third quarter of the financial year, which overlaps with the winter holiday season,” Savulescu added. Panasonic Romania files its financial reports the same way as the parent company does, so that its fiscal 2003 started on April 1, 2003 and ends on March 31, 2004. The key categories to contribute to the turnover growth are the audio and video systems, TV sets and home cinema systems, as the product range distributed in Romania is the same as in Western Europe, according to the Panasonic Romania official. Yorihisa Shiokawa, Panasonic’s manager for Eastern Europe specified the sales in Romania would go up 24% in the financial 2003 compared with the financial 2002, totalling 24 million euros. “Romania is the most dynamic market in Eastern Europe and I think it will become the biggest of this region shortly,” Shiokawa added. ZF