Altex: We can top 110m-euro sales in Q4

Electronics and home appliances retailer Altex posted sales worth 189.4 million euros in the first three quarters of this year, up 47.5% against the same time last year, when the company’s sales reached around 128 million euros. Altex representatives said 40% of this year’s total sales (approximately 110 million euros) would be derived in the last quarter of the year and would meet the budgeted turnover, worth 300 million euros. “We expect to derive 110 million-euro sales in the fourth quarter, and could even exceed our target. The figures are mainly based on results seen in the last few years, when the highest sales were witnessed in December,” Adrian Urda, business unit director of Altex, told ZF. The company posted a 77.4 million-euro turnover in the third quarter of the year, up 60% against the same time in 2006, higher than the 25% sales increase witnessed in the first half of the year. According to estimates made by the general manager Dan Ostahie, Altex will see a 2% profit margin in 2007, i.e. a 6 million-euro profit.