Altex: 300 million-euro sales in 2007

Altex, the largest retailer of electronics, home appliances and IT&C products on the Romanian market, posted an over 300 million-euro turnover last year surpassing its original target. “Last year, we derived an over 300 million-euro turnover, according to preliminary results. I cannot say exactly by how much we exceeded this value,” said Adrian Urda, executive manager of Altex. The preliminary results for 2007 are 30% higher than in the previous year. Three quarters into last year, the retailer had reported turnover worth 189.4 million euros, after sales exceeded 110 million euros in the last quarter of the year. The retailer stepped into the black in 2007, after it saw losses worth almost 4 million euros in 2006. “We posted an operating income worth 10 million euros,” said Urda. The 2007 results, higher than the initially budgeted sum, have encouraged company representatives to revise this year’s forecast upwards, to 350 million euros.